Investment consultants market investigation

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.

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.

Proposals for mandatory tendering of fiduciary management services, as well as additional guidance for trustees, have been welcomed by industry commentators albeit with some caution.

John Wotton says the competition watchdog's package of proposals will help trustees get the best deal and be satisfied they are acting in their members' best interests

The Competition and Markets Authority (CMA) published its provisional decision on its investment consultant market investigation this morning. Here is the reaction from consultants and fiduciaries…

Investment consultants have been spared a major shake-up in their operations and business models after an investigation by the competition watchdog proposed just a handful of remedies.