Category Archives: Fiduciary Management
Private markets – a jewel in the crown or fool’s gold?
A key aim for DC trustees should be to consider how to ‘further improve’ long term future net risk adjusted returns and ‘member outcomes’ rather than just cutting costs. Getting more for members! @GuyOpperman @DWP @TPRgovuk @TheFCA @ThePLSA @bankofengland @henryhtapper … Continue reading
Posted in age wage, DWP, Fiduciary Management, Guidance, guy opperman
Tagged AgeWage, BOE, chris sier, Con Keating, Darren Agomber, fools gold, jewel in the crown, Productive Finance, ruston smith
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Con Keating questions the value of “limited liability”.
It’s been a while since this blog has featured Con’s incisive thinking. This article calls into question the capacity of shareholders to have their returns and have someone eat the risk. There’s a lot of easy talk about the “governance” … Continue reading
Posted in Fiduciary Management, governance, pensions
Tagged Con Keating, ESG, Goodhart and Lastra, governance
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Value for money from investment consultants
In this article I’m proposing that investment consultants are subject to the same degree of scrutiny as the other service suppliers to trustees. Investment consultants should be subject to a Value for Money assessment). This morning I will be hearing … Continue reading
As clear as a frosted window – the IA on charges (again)
The Investment Association (IA) have published another paper as their contribution to the ongoing debate on what the public and their fiduciaries should know about their funds. The paper fails on a number of levels 1. It ignores the fact that … Continue reading
Posted in accountants, advice gap, Fiduciary Management, Financial Conduct Authority, investment, ISA, pension playpen, pensions
Tagged The Investment Management Association, charges, costs, DGF, IMA, Investment Management Association, Transaction costs, transactional costs, Transactions, Value for Money
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Are workplace pensions “risk-free” to employers?
If you think workplace savings plans are “risk free” to employers – think again; “value for money” changes that Continue reading
Posted in advice gap, Bankers, consultant, dc pensions, Fiduciary Management, First Actuarial, pension playpen, pensions, Retail Distribution Review, Retirement
Tagged Business, Business and Economy, Canada, CDC, Colin Ripsman, corporate governance, corporate risk, dc, dc pensions, de-risking, decumulation, Defined benefit pension plan, Defined Contribution, Eckler Ltd, Employment, Financial services, Pension new, pension playpen, pensions, Plan sponsors, Retirement, retirement income, Steve Webb, workplace Pensions
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Can we afford financial services in times of austerity?
Thomas Philippon , the celebrated economist, gave a lecture on Tuesday Morning as part of London University’s Leading Minds series. The gist of his talk is that the cost of financial services (the collective name for everyone who is an … Continue reading
Posted in FCA, Fiduciary Management, Financial Conduct Authority, Politics
Tagged austerity, Business, corporate risk, DWP, Employment, FCA, financial service, Financial services, Financial Services Authority, financial services industry, Human Resources, Insurance, intermediaries, intermediation, Investing, Investment, Investment management, John Kay, pensions, Retirement, Thomas Philippon, TPR
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Why we have no time for “Banker Immunity”.
We have not seen bankers marched in handcuffs from their desks but now it seems we might. The regulators have put-out a consultation paper that seeks to pin accountability on Directors (including non-executive Directors). A good friend of mine … Continue reading
Posted in Bankers, Fiduciary Management, Financial Conduct Authority
Tagged Bankers, Bonus, Business, Business and Economy, corporate risk, Crime, Employment, FCA, Financial services, Financial Services Authority, governance, London, Non-Executive, PRA, Prison, regulation, Treasury, United States
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“What we need and what we want” – financial education in schools
Many congratulations to Tracey Bleakley and all at pfeg for getting personal finance onto the national curriculum from today. Speaking on Wake Up To Money this morning, Tracey was asked what the one piece of financial advice she’d give to those in her … Continue reading
Posted in FCA, Fiduciary Management, Financial Conduct Authority, Financial Education
Tagged Business, Defined benefit pension plan, DWP, financial education, Financial services, Government, National Employment Savings Trust, pension, Pension new, pension playpen, PFEC, Retirement, September 1st, Steve Webb, Tracey Bleakley
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A promise or a guarantee?
If Steve Webb wants AE to work, he should stop turning promises into guarantees and burdening employers with unforeseen liabilities and huge consultative and administrative costs. Continue reading
Posted in actuaries, auto-enrolment, corporate governance, EU Solvency II, Fiduciary Management, leadership, Liability Driven Investment, pension playpen, Popcorn Pensions, steve webb
Tagged Benefit, Business, Business and Economy, dc pensions, de-risking, Defined benefit pension plan, Guarantee, pension, Pension new, pension playpen, Retirement, Steve Webb
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And why these “employer duties”?
Employers do not have fourty year business plans but employees do. We call those plans “careers”. Continue reading