Fiduciary management

Aon, Mercer and Willis Towers Watson have renewed criticism of the Competition and Markets Authority (CMA) over its analysis of the benefits of tendering for fiduciary management contracts.

Tendering for fiduciary management has led to fees being reduced by between 19% and 22%, latest analysis by the Competition and Markets Authority (CMA) finds.

Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.

The CMA investigation into the investment consultants and fiduciary managers market is drawing to a close. James Phillips looks at reaction to the provisional decision

The majority of Pensions Buzz respondents said directors who avoid obligations should be penalised.

Mandatory tenders for fiduciary management services should be conducted on a closed basis with no minimum threshold for the number of managers involved, the Pensions and Lifetime Savings Association (PLSA) says.

Proposed remedies for the investment consultant and fiduciary management market will need a substantially clearer rulebook in order to be practical, Aon has warned.

Jonathan Stapleton says the jury is out on whether or not the competition watchdog has gotten it right with its proposals for consultants and fiduciaries.

This week's top stories included coverage of the Competition and Markets Authority's provisional decision following its investigation of investment consulting and fiduciary management.

Respondents were almost evenly split in this week's Pensions Buzz on whether the Competition and Markets Authority's (CMA) remedies for the investment consultant and fiduciary management markets go far enough.