Consultants Combine to Combat ‘Conflicts of Interest’

Global auditor and consulting firm PwC has formed a relationship with UK investment consultant Redington to create an “independent advisory proposition” for pension funds and their sponsors.

Citing “concerns over conflicts of interest in the investment consultancy process,” the firms announced their strategic alliance to be offered to UK pensions.

“We believe an integrated solution, leveraging the breadth, depth, and skills of both firms, is the best way to tackle the needs of our clients,” said Robert Gardner, co-CEO at Redington.

Clients taking up the services of this alliance would be able to access “independent advice” from strategy to execution, the firms said.

Redington, with a background in investment consulting, is to bring its experience in driving returns from fund assets, improve funding levels and reduce downside risk, according to the companies. PwC is to use its knowledge of reducing and financing deficits, modernising pension plan design and member options, and creating asset/liability strategies.

“By applying the firms’ knowledge, people, and analytics in an integrated way, this alliance will help sponsors and trustees better understand and implement the necessary changes that will solve the challenges they face,” said Raj Moody, head of UK pensions consulting at PwC. 

“Importantly, clients can be confident about the independence of advice particularly around asset strategy.”

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