By Leanne Carpenter, Business Development Consultant and Matt Flower, Principal and Senior Business Development Consultant from Barnett Waddingham
Unveiling insights into the professional independent trustee (IT) market and what to expect when working with an IT. Our report uncovers valuable insights into what it’s really like to work alongside ITs, from the individuals who work directly with them.
Our intention was to survey individuals who work alongside professional trustees. We have had over 220 responses from a range of individuals including member nominated trustees, company appointed trustees (non-ITs), company representatives and pension managers. This has helped us to provide a comprehensive assessment of the IT market, moving beyond just factual data to focus on added value to the respondents’ schemes. The survey responses include both clients and non-clients of BW to provide a broad view of market perception.
Most of our respondents work with a defined benefit (DB) pension scheme with some respondents working on schemes with hybrid elements. Schemes were a broad mixture of structures from closed or open to accrual or new entrants.
Within our report, we’ve analysed:
the value ITs bring to appointed schemes;
opportunities for ITs to better support clients;
perceptions from those who haven't worked with ITs before; and
factors influencing schemes to consider appointing an IT in the future.
Key findings at a glance:
ITs enhanced decision-making: Our survey found that an IT appointment significantly boosted the decision-making process for trustees, as they bought a wealth of experience to the board.
High-quality service: Respondents praised the high-quality service they received from their IT, with “Overall, highly satisfied” being a recurring quote.
Minimal concerns reported: 73% of respondents claimed they had no issues or concerns with their IT.
Discover insights into the professional IT market
Discover insights into the professional IT market
Our report uncovers valuable insights into what it’s really like to work alongside ITs, from the individuals who work directly with them.
Barnett Waddingham’s Independent Trustee Survey 2025
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