Investment consultancy Redington has joined forces with Big Four accountancy firm PwC to advise pension funds, saying the consulting model of fiduciary management is conflicted.
The firms aim to help trustees and sponsors better eliminate deficits, improve funding levels, and manage pensions risk.
“As concerns over conflicts of interest in the investment consultancy process continue to intensify, Redington and PwC believe an end-to-end independent advisory proposition is imperative to tackling the challenges faced across the pensions industry,” a statement says.
Conflicts of interest are seen to surround the fiduciary management model, where a consultancy also offers an in-house asset management capability.
Redington and PwC say they are offering an end-to-end independent advisory proposition that will provide organisations tackling pensions challenges with independent advice, all the way from strategy through to execution.
Redington, will seek to drive returns from assets, improve funding levels and reduce downside risk. PwC will apply its expertise in reducing and financing deficits, modernising pension plan design and member options, as well as asset liability strategy.
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