Who? The most important decision of all

Selecting a fiduciary manager is one of the most important decisions trustees can make, given the appointee’s pivotal role in setting and implementing a scheme’s investment strategy.

Read full reportFiduciary-Management-Who-Most-Important-Decision-June-2019
0 pages183 KB


Stephen Bowles
Senior Director - Fiduciary and Consultant Relations

The decision to change a pension scheme’s operating model is a significant one, and therefore requires a substantial upfront investment of time and resource to do the decision justice. However, as a fiduciary management appointment progresses, the reduced governance burden on the trustees acts to offset this initial time investment.

As well as being time-intensive, choosing which fiduciary manager to select can be difficult. There are many fiduciary management styles, and trustees need to decide which decisions to delegate.

Given these issues, there are a number of questions trustees should consider before deciding whether fiduciary management is right for their scheme and embarking on a selection process.


The table opposite sets out the steps in a typical fiduciary manager selection process, including the essential role of an independent advisor.

Key takeaways

  • A thorough selection process is vital when appointing a fiduciary manager
  • Before starting the selection process, trustees should ensure they consider their objectives and the extent of delegation they are comfortable with
  • The process should include independent advice delivered by a third party
  • A range of independent providers have developed resources to help trustees through the selection process


Read full reportFiduciary-Management-Who-Most-Important-Decision-June-2019
0 pages183 KB

Subscribe to our insights

Visit our preference centre, where you can choose which Schroders Insights you would like to receive.


Stephen Bowles
Senior Director - Fiduciary and Consultant Relations
Follow us

Please remember that the value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.

This marketing material is for professional investors or advisers only. This site is not suitable for retail clients.

Issued by Schroder Investment Management Limited, 1 London Wall Place, London EC2Y 5AU.

For illustrative purposes only and does not constitute a recommendation to invest in the above-mentioned security / sector / country.

Registered No: 1893220 England. Authorised and regulated by the Financial Conduct Authority.

For your security, communications may be recorded or monitored.

On 17 September 2018 our remaining dual priced funds converted to single pricing and a list of the funds affected can be found in our Changes to Funds. To view historic dual prices from the launch date to 14 September 2018 click on Historic prices.