Pensions - Articles - CMA investigation into IC and FM markets closes


Patrick McCoy, Head of Investment at XPS Pensions Group comments on the CMA investigation into the Investment Consultancy and Fiduciary Management markets as the ‘Consultation on the draft Investment Consultancy and Fiduciary Management Market Investigation Order 2019’ closes

 “This morning marks the deadline for industry feedback on the draft provisions from the Competition and Markets Authority (CMA) relating to the investment consulting and fiduciary management markets, which XPS Investment (part of XPS Pensions Group) fully support. We believe the remedies will have significant consequences on both industries and will encourage more competition which will provide better outcomes for pension schemes and their trustees.

 “Yesterday’s announcement from the Department for Work and Pensions (DWP) was spot on when they said that “The market sometimes restricts trustees’ ability to find the best value for money”. The CMA has wrapped the knuckles of the independent investment advisers who have been using their trusted adviser status to sell their own products.

 “Investment advice is the most critical factor in achieving better outcomes for millions of pension scheme members and by creating a better functioning and more transparent market, trustees will be able to look outside of the more established players to find the right solution for their scheme.”
  

Back to Index


Similar News to this Story

Lack retirement confidence as cost of living bites
New research from PensionBee reveals that September is a pinch point for household budgets, with rising bills leading many to reconsider their long-te
Professional trustee market matures but growth slows
LCP’s latest and fifth annual survey on the Professional Trustee and Sole Trustee market – LCP Sole Mates highlights that while growth has slowed in t
Charities see improving DB pensions funding in 2025
The combined reserves of the largest 40 charities in England & Wales that sponsor DB pensions schemes now sits at £49bn in 2025, according to Hymans R

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.