What is the market like for
fiduciary management in the UK?
Fiduciary Management for UK Pension Schemes
The fiduciary management market in the UK is growing rapidly with new entrants coming to the market regularly. A strong market has existed in the Netherlands for many years and a number of the current players in the UK market have a Dutch heritage. Most of the large UK employee benefit firms and a number of asset managers have constructed fiduciary management solutions, so the UK market is now well diversified with an array of solutions on offer.
The expertise and internal infrastructure offered by each firm can have a different emphasis. Furthermore, the approach to delegation can vary quite widely. One of the key areas to understand when appointing a fiduciary manager is the degree of delegation that they can offer, so we find it useful to categorise the services which can be delegated.
One final point is that you often hear the terms implemented consulting, delegated consulting, delegated de-risking, solvency management etc. Our view is that these terms are essentially different descriptions of fiduciary management and should be included under the same umbrella to ensure that trustees and sponsors are aware of the wide choice of solutions at their disposal.