With the largest portfolio of sole trustee schemes and the largest number of trustees with sole trustee schemes within their portfolio, we are perfectly placed to provide a highly quality and effective service to any scheme considering sole trusteeship.
Sole trusteeship is a key part of our business. We currently have the largest portfolio of sole trustee clients and the highest number of trustees working on them in the market. Where a sponsor chooses to have their scheme run this way we can offer experience and a strong governance structure, giving comfort that they are appointing a professional trustee with experience and a demonstrable track record in sole trusteeship.
We will provide a named client team who we think best matches a client’s needs. Within our wider team we have an unparalleled diversity of experience that they can draw upon as a situation demands including former actuaries, lawyers, covenant advisers, corporate financiers and most stops in between.
Among the many reasons a sponsor or trustee board might appoint a sole trustee are:
- To speed up the decision making process – Decisions are made by a single trustee rather than a board which will invariably lead to a quicker decision making process.
- Difficulty filling trustee board vacancies – It is becomingly increasing difficult for sponsors to find individuals who are prepared to act as a member nominated or employer nominated representative on trustee board.
- Increasing regulatory and legislation changes – The increasing complexity of pension issues can make it difficult for lay trustees to spend sufficient time on pension matters.
- Conflicts of Interest – The existence of conflicts of interests which can create difficult situations for member and employer nominated representatives.
- Time savings – To free up time of member or employer representative to concentrate on the sponsor’s ongoing business.
Whilst it important to understand the benefits a scheme and sponsor might achieve by moving to a sole trustee, it is equally important to have a balanced view of the model thus understanding its disadvantages. In the attached paper click here we outline some of those advantages and disadvantages which you should consider.
There are five key differences between us and our competitors:
- With around 80 sole trustee schemes we are constantly told that we have the largest current sole trustee portfolio.
- With over 20 of our trustees having sole trustee cases within their portfolio we have the largest talent pool of trustees in this area.
- We are the only professional trustee firm that has a dedicated Head of Sole Trusteeship who overviews every aspect of sole trusteeship for our business.
- We have a Sole Trustee Committee, who with the Head of Sole Trusteeship, constantly challenge our model to ensure it remains relevant in the changing pensions landscape.
- We host Sole Trustee Forums and Workshops with advisers to challenge the “norm” and understand how the market is evolving.
Links to articles relating to sole trusteeship are below:
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Call us on 020 7012 8700, email or leave contact details and find out how to achieve the benefits we offer.
Please contact Harus Rai on
0207 012 8700.