Fiduciary Management. A guide for pension schemes. KPMG Investment Advisory
|
|
- Lionel Quinn
- 6 years ago
- Views:
Transcription
1 Fiduciary Management A guide for pension schemes KPMG Investment Advisory 2017
2 Is Fiduciary Management right for me? Can Fiduciary Management improve my pension scheme? This is a question we often hear from trustees. To answer it we need to be clear first about what your scheme needs, and then about what Fiduciary Management does. Fiduciary Management is a way of overcoming obstacles that some trustee boards face and implementing an agreed investment strategy. Removing these obstacles can lead to better investment performance. The first stage is identifying the obstacles. We have put together a list of questions that trustees can ask themselves to home- in on any problem areas: If you had more time, would your portfolio look different? Has recent investment performance been below expectations? Does your investment strategy feel too simplistic? Do you feel like you are missing out on new investment ideas? Do you feel you lack control of your scheme s investments? Do you feel uncomfortable with the investment decisions you are being asked to make? If you answered yes to any of these questions, this can indicate that your investment decision making structure is not working as well as it could do. Fiduciary Management might be the right approach. For example you might want to invest in hedge funds but don t have the meeting time to keep track of them on an ongoing basis. Or you might want the portfolio to invest more opportunistically in different asset classes but don t have the expertise to quickly authorise an opportunistic investment. Your investment strategy remains your most important decision. Issues such as deciding what target you are aiming for and how much return and risk you want to pursue cannot be delegated. When you have established the direction of your investment strategy, Fiduciary Management could be used to help you implement this strategy. The services provided to you by your Fiduciary Manager should match the strategy that you have decided to implement. It is important to remember that Fiduciary Management is not a panacea it does not in itself guarantee better investment returns. It is also possible that a relatively simple change may address your problems. For example the creation of an investment sub - committee with more time to devote to investment matters. Therefore each scheme will have to weigh up the costs of Fiduciary Management with the specific benefits it can bring to them before deciding if it is the right option. Will using a Fiduciary Manager give me better investment returns? Investing your pension scheme money is a bit like travelling up a motorway: you can choose a slower safer lane, or a faster more dangerous lane. A core function of a Fiduciary Manager is to help you navigate the motorway sensibly. However they will still follow your guidance (slow and steady or fast and furious) and will still be subject to traffic jams or bad weather. So while good performance is always an aim in choosing a Fiduciary Manager it cannot be guaranteed. As important as your Fiduciary Manager being a good driver is that you have given them clear instructions on the destination and preferred route before they receive the keys.
3 How to choose a Fiduciary Manager? If you ask a room full of people whether they consider themselves to be a better than average driver more than half of them will say yes. If you ask a room full of Fiduciary Managers whether they believe that they are a better than average Fiduciary Manager you will get a unanimous response! However there are good reasons why, counter -intuitively, the drivers and the Fiduciary Managers can in theory all be correct. This is because it all depends on what criteria you are using to define being good. One driver might think they are better than average because they drive cautiously and have never had an accident, whereas another driver might be more skilled at reverse parking. They are both better than average because they are using very different criteria to assess themselves. Different Fiduciary Managers will also have different strengths and weakness. Some might have large departments dedicated to identifying the best performing fund managers. Others will be more focussed delivering a more conservative strategy with emphasis on managing big picture risks and costs. To identify the right Fiduciary Manager for your scheme you need to identify the jobs that you want them to do for you. Then a suitable Fiduciary Manager can be matched to the role. Ultimately you are trying to find the Fiduciary Manager who is best placed to generate good returns for your pension scheme. But the how is just as important because you need to be comfortable with the (inevitable) investment risks that the Fiduciary Manager is taking on your behalf. So trying to find the best Fiduciary Manager is like trying to find the best driver, before you can start searching you have to decide precisely what role you want them to perform and what qualities you are looking for. i Case study: Selecting a manager After deciding that Fiduciary Management was right for them, a client asked KPMG to help them choose a Fiduciary Manager for their pension scheme. We held an initial interactive workshop meeting with the scheme to find out exactly what were the priorities and concerns of the trustees. It was clear that the main pull factor was the ability to put in place a more complex investment strategy. A key concern was costs: they had to see clear value for money in the service. They were less concerned about short term volatility given the strength of the sponsor. Having established the criteria we used a focused set of scheme specific questions and our existing research into Fiduciary Managers in the UK, to help the trustees identify the most suitable Managers. These Managers were briefed on the circumstances of the scheme and asked to provide an indicative asset allocation. Three Managers then met the trustees who also had the opportunity to establish which manager was the best fit with them and the way they worked. There was a final fee negotiation before the successful Manager was chosen. Working with KPMG the trustees were able to feel a high degree of confidence that they had chosen the right Manager for the job, at a reasonable cost.
4 Keeping your Fiduciary Manager on track If you make sure that you are fully engaged with your Fiduciary Manager throughout the journey to full funding, you are much less likely to be surprised where you end up - and how much it has cost you. What does staying engaged mean? It means knowing exactly what investment decisions have been delegated to the Fiduciary Manager and what investment decisions remain with the trustees. It means knowing what have been the key factors driving performance so far and whether this reflects good Fiduciary Manager decisions, good trustee decisions, or the behaviour of the markets. It means knowing exactly what you are paying your Fiduciary Manager and what the fund and transition costs have been in your portfolio. It means having a realistic expectation of what your Fiduciary Manager can achieve and how. For many trustees without specialist investment knowledge, properly keeping track of their Fiduciary Manager can be time consuming and very difficult to identify strengths and weaknesses. This is where we recommend employing a third party to oversee your Fiduciary Manager. An overseer can ensure the significant cost of Fiduciary Management offers value for money, save the trustees valuable time, and ensure that investment performance remains on track and is understood. Here at KPMG Investment Advisory we look at three key aspects when monitoring a Fiduciary Management mandate: Have the actions the Manager has taken been reasonable and proportionate? Has the performance and risk in the pension scheme been satisfactory and does the long term investment objective remain feasible? Have there been any changes at the Fiduciary Manager which may compromise their ability to deliver good performance in the future? This helps to ensure that any issues are identified early and long term performance is improved as a result. Our approach is collaborative, to help you get the best out of your Fiduciary Manager. Anthony Webb Fiduciary Management is a bit like taking a taxi After a taxi ride in Panama City ended acrimoniously I came to the conclusion that there is a universal rule which can be applied to improve any taxi journey: the more you engage with your taxi driver the more likely that your ride will be as you expect. If you fall half asleep or otherwise zone out, the chances of things going wrong go up noticeably. The same is true of keeping an eye on your Fiduciary Manager. If you make sure that you are fully engaged throughout the journey to full funding, you are much less likely to be surprised where you find yourself. i Case study: Identifying a problem with a Fiduciary Manager A client had been using a particular Fiduciary Manager for several years when they were approached by the Manager with a proposal: to make a small change to their performance benchmark. On the face of it this proposal seemed innocuous. However when examining the implications more closely we were able to highlight that this would have led to an immediate increase to the Fiduciary Manager s performance related fee. Our oversight role effectively saved the scheme over 100,000 they would have otherwise paid to the Fiduciary Manager.
5 Anthony Webb Head of Fiduciary Management Research T: +44 (0) E: Simeon Willis Head of Investment Strategy T: +44 (0) E: kpmg.com/uk The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation KPMG LLP, a UK limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
2014 KPMG UK Fiduciary Management Market Survey
INVESTMENT ADVISORY 2014 KPMG UK Fiduciary Management Market Survey November 2014 kpmg.com/uk 1 2014 KPMG UK FIDUCIARY MANAGEMENT MARKET SURVEY 2 The survey results presented are based on the responses
More informationTailor made investment approach
WHAT DOES INVESTING MEAN? 03 GUIDE TO INVESTING - Tailor made investment approach 02 GUIDE TO INVESTING Contents WHAT DOES INVESTING MEAN? 3 UNDERSTANDING YOUR NEEDS AND REQUIREMENTS 5 UNDERSTANDING RISK
More informationUnderstanding investments. A quick and simple guide to investing.
Understanding investments A quick and simple guide to investing. Irish Life Multi-Asset Portfolio funds are available on investment and pension plans provided by Irish Life Assurance plc. INTRODUCTION
More informationINVESTMENT FUNDS. Your guide to getting started. Registered charity number
INVESTMENT FUNDS Your guide to getting started Registered charity number 268369 CONTENTS Introduction 3 Balancing risk and reward 4 Get to grips with asset allocation 6 Make the management decision 8 Go
More informationNo end to growth in sight
No end to growth in sight The UK LDI Market June 2017 kpmg.com/uk/pensions Executive summary The Liability Driven Investment (LDI) industry continues to grow rapidly, with 908 billion of liabilities hedged
More informationKEY GUIDE. The key stages of financial planning
KEY GUIDE The key stages of financial planning What can financial planning do for you? Financial planning has witnessed significant change, so it is not surprising that most people are unclear about what
More informationINVESTMENT FUNDS. Your guide to getting started. Registered charity number
INVESTMENT FUNDS Your guide to getting started Registered charity number 268369 CONTENTS Introduction 3 Balancing risk and reward 4 Get to grips with asset allocation 6 Make the management decision 8 Go
More informationPlanning your investment journey
BASF UK Group Pension Scheme Investment guide Planning your investment journey January 2016 2 BASF UK Group Pension Scheme Contents Planning your journey Types of investments 4 Types of risk 5 Types of
More informationYOUR pension. investment guide. It s YOUR journey It s YOUR choice. YOUR future YOUR way. November Picture yourself at retirement
YOUR pension YOUR future YOUR way November 2017 YOUR pension investment guide It s YOUR journey It s YOUR choice Picture yourself at retirement Understanding the investment basics Your investment choices
More informationUnderstanding investment risk
Pilling & Co Stockbrokers Ltd Understanding investment risk This guide is designed to help you understand investment risk so that you only invest in a manner that is consistent with your attitude to risk.
More informationTOOL SUITE FIDUCIARY MONITORING SYSTEM AND INVESTMENT DUE DILIGENCE. Plan Sponsor Challenge: Retirement Partners
FIDUCIARY MONITORING SYSTEM AND INVESTMENT DUE DILIGENCE Managing Investment Responsibilities Properly Meeting the obligations of a retirement plan fiduciary may be daunting. You must be sure the funds
More informationPolicy reference Policy product type LGiU essential policy briefing Published date 09/07/2009. Overview
Page 1 of 5 Room for Improvement: Strategic asset management in local government Policy reference 200900278 Policy product type LGiU essential policy briefing Published date Author Laura Wilkes This covers
More informationA Comprehensive Guide to Selecting a Fiduciary Manager
Aon Hewitt Delegated Consulting Services A Comprehensive Guide to Selecting a Fiduciary Manager February 2014 Risk. Reinsurance. Human Resources. Table of contents Overview...2 How to select your fiduciary
More informationYOUR pension. investment guide. It s YOUR journey It s YOUR choice. YOUR future YOUR way. November Picture yourself at retirement
YOUR pension YOUR future YOUR way November 2016 YOUR pension investment guide It s YOUR journey It s YOUR choice Picture yourself at retirement Understanding the investment basics Your investment choices
More informationRead slide / introduce seminar.
Read slide / introduce seminar. Introduce yourself as a Registered Representative of Voya Financial Partners or Voya Financial Advisers (as applicable). 1 Retirement Advisory Distribution and Tax Sheltered
More informationFINANCIAL PLANNING. the benefits of. financial planning. Prepare for your goals
FINANCIAL PLANNING the benefits of financial planning Prepare for your goals Take Control of Your When you apply for life insurance, you typically will be asked to have a medical examination performed
More informationPersonal Financial Profiling
Personal Financial Profiling Introduction Many financial decisions are made in situations of uncertainty, and so risk is involved. Different people are comfortable with different levels of risk. Unlike,
More informationINA. SUCCESSFUL SALE of your. Agency. Planning the. Guide. the Nanny Agency EXIT STRATEGY
INA the Nanny Agency EXIT STRATEGY Guide Planning the SUCCESSFUL SALE of your Agency the Nanny Agency Exit Strategy Guide INTERNATIONAL NANNY ASSOCIATION WHAT'S INSIDE WELCOME Exit Strategies Business
More informationAlternative Investments Advisory Services. kpmg.com
Alternative Investments Advisory Services kpmg.com Alternative investment opportunities are in great demand as investors seek out consistent, riskadjusted returns. But great demand for your business often
More informationA FLEXIBLE RETIREMENT INCOME FOR WHATEVER THE FUTURE HOLDS LET S TALK HOW. PENSION DRAWDOWN
A FLEXIBLE RETIREMENT INCOME FOR WHATEVER THE FUTURE HOLDS LET S TALK HOW. PENSION DRAWDOWN INTRODUCING FLEXIBLE RETIREMENT INCOME What do you think you ll be doing in ten years time? Or twenty? It s not
More informationROUNDTABLE PE MANAGER APRIL 2014 ISSUE 116
18 VALUATION Evolving practices The speed at which GPs have formalized their valuation policies and procedures much of it in response to heightened scrutiny from regulators and investors has been nothing
More informationINVESTING FOR YOUR FINANCIAL FUTURE
INVESTING FOR YOUR FINANCIAL FUTURE Saving now, while time is on your side, can help provide you with freedom to do what you want later in life. B B INVESTING FOR YOUR FINANCIAL FUTURE YOUR FINANCIAL FUTURE
More informationOur Risk Tolerance Assessment
Our Risk Tolerance Assessment! Springwater!uses!the!services!of!a!professional!third!party!to!help!us!better!understand!your!financial! risk!tolerance!!your!attitudes,!values,!motivations,!preferences!and!experiences.!!!!
More informationmy a glance Life s brighter under the sun Helping you save and plan for your future at every stage In this issue...
my money @ a glance Helping you save and plan for your future at every stage What s your risk personality behind the wheel? If you invest like you drive, you may want to hit the brakes If someone asks
More informationYour invitation to TD Wealth Private Investment Advice
Your invitation to TD Wealth Private Investment Advice It isn t just about where you are today, it s about where you see yourself tomorrow Add our momentum to yours Imagine the heights you could reach
More informationExplaining risk, return and volatility. An Octopus guide
Explaining risk, return and volatility An Octopus guide Important information The value of an investment, and any income from it, can fall as well as rise. You may not get back the full amount they invest.
More informationSMART PLANNING FOR SMART PEOPLE. guide to investing
SMART PLANNING FOR SMART PEOPLE guide to investing 2 GUIDE TO INVESTING 3 INTRODUCTION Contents What does investing mean? 4 Understanding your needs and requirements 6 Understanding risk 8 Spreading the
More informationINVESTMENT SOLUTIONS. Fiduciary Management. Knowing our scheme is in good hands leaves me free to focus on where I add value.
INVESTMENT SOLUTIONS Fiduciary Management Knowing our scheme is in good hands leaves me free to focus on where I add value. ABOUT US The JLT fiduciary management service brings together the expertise of
More informationInvestment Guide. Accumulation section 30 September United Technologies Corporation Retirement Plan
United Technologies Corporation Retirement Plan Investment Guide Accumulation section 30 September 2017 Inside Your choice 2 Making your decision 3 Investment basics 4 Your investment options 6 Commonly
More informationPension governance and disclosure is changing. Are you ready for IORP II?
Pension governance and disclosure is changing Are you ready for IORP II? Introduction to IORP II Before formally exiting the EU in March 2019, the UK will need to implement the latest EU pensions directive
More informationKEY GUIDE The key stages of financial planning
Kelvin Financial Planning Ltd KEY GUIDE The key stages of financial planning Financial planning is a relatively new profession, so it is not surprising that most people are vague about what financial planners
More informationMaking DC work for a diverse membership
For professional clients only Aon Pension Conference 2018 Making DC work for a diverse membership Table of contents Executive summary.... 3 Why is this important?.... 3 What does this mean for those who
More informationSharper Fund Management
Sharper Fund Management Patrick Burns 17th November 2003 Abstract The current practice of fund management can be altered to improve the lot of both the investor and the fund manager. Tracking error constraints
More informationBeyond Investment Illusions.
YOUR LOGO HERE Beyond Investment Illusions. Investing made clear, straightforward and right for your circumstances. Contents Our Investment ethos Helping you focus on what s important Making the risks
More informationCreating value in Private Equity
Creating value in Private Equity KPMG s Target Value Platform May 2018 kpmg.com/uk Introduction In today s highly competitive market, spotting value creation opportunities as well as understanding pre-acquisition
More informationIntroduction to the Gann Analysis Techniques
Introduction to the Gann Analysis Techniques A Member of the Investment Data Services group of companies Bank House Chambers 44 Stockport Road Romiley Stockport SK6 3AG Telephone: 0161 285 4488 Fax: 0161
More information2 GUIDE TO INVESTING
GUIDE TO INVESTING At Intrinsic our approach to investment advice is based on clearly understanding your financial situation, your goals, and how much risk you are prepared to take with your money. 2 GUIDE
More informationTHE NTT EUROPE COMPANY PENSION GROUP PERSONAL PENSION. A guide to help you prepare for the retirement you want
THE NTT EUROPE COMPANY PENSION GROUP PERSONAL PENSION A guide to help you prepare for the retirement you want Your NTT Europe company pension is provided by Scottish Widows. SUPPORTING LITERATURE AND TOOLS
More informationCrucial Questions. Every retirement plan provider should ask when defining its growth strategy
4 Crucial Questions Every retirement plan provider should ask when defining its growth strategy Introduction Plan sponsors expect far more from their retirement plan provider than ever before, all at a
More informationMaking the most of your savings
Isle of Man Retirement Savings Plan Making the most of your savings Your guide to Investment Options in thetesco Isle of Man Retirement Savings Plan April 2016 Your guide to Investment Options in the Tesco
More informationStep 2: Decide Who Might be Harmed and How. Step 3: Evaluate the Risks and Decide on Precautions. Step 4: Record Your Findings and Implement Them
r o f t n e m e g a n a M s p k i s r i T R d n a s e r u t x i F y Awa Ris y g e t a r t ks CONTENTS Section 1: Section 2: Section 3: Introduction The Risk Management Process The Types of Risks Faced
More informationTime to Focus on Getting Things Done. Delivering Pensions Stability faster. Risk. Reinsurance. Human Resources.
Aon Hewitt Retirement and Investment Solutions Time to Focus on Getting Things Done Delivering Pensions Stability faster Risk. Reinsurance. Human Resources. Time to focus on getting things done Delivering
More informationAnnuities: The Unknown Retirement Solution
Annuities: The Unknown Retirement Solution If I had asked people what they wanted, they would have said faster horses. Henry Ford Clients are looking for annuities they just might not know it yet. At Athene,
More informationYou,Your Advisor & Retirement Management Systems
SAVINGS PLAN MANAGEMENT An asset allocation and rebalancing program for your employer-sponsored retirement account. You,Your Advisor & Retirement Management Systems Saving for Retirement Through Your Employer-Sponsored
More informationBINARY OPTIONS: A SMARTER WAY TO TRADE THE WORLD'S MARKETS NADEX.COM
BINARY OPTIONS: A SMARTER WAY TO TRADE THE WORLD'S MARKETS NADEX.COM CONTENTS To Be or Not To Be? That s a Binary Question Who Sets a Binary Option's Price? And How? Price Reflects Probability Actually,
More informationR. Karras, Asset Management & Planning, LLC
"Are we the missing piece of your financial picture?" Planner Selection Process & Scope of Investment Understanding For clients of R. KARRAS, ASSET MANAGEMENT & PLANNING, LLC R. Karras, Asset Management
More informationYour guide to the fundamentals of investing
Your guide to the fundamentals of investing Your money. Our expertise. This guide is for information purposes only. It should not be seen as advice. Investments in the stock market may fall as well as
More informationIndustries Financial Services. Survey on Effective Management of South African Retirement Funds* March PwC. *connectedthinking
Industries Financial Services Survey on Effective Management of South African Retirement Funds* March 2007 PwC *connectedthinking PricewaterhouseCoopers has exercised reasonable professional care and diligence
More informationGUIDE TO RETIREMENT PLANNING MAKING THE MOST OF THE NEW PENSION RULES TO ENJOY FREEDOM AND CHOICE IN YOUR RETIREMENT
GUIDE TO RETIREMENT PLANNING MAKING THE MOST OF THE NEW PENSION RULES TO ENJOY FREEDOM AND CHOICE IN YOUR RETIREMENT FINANCIAL GUIDE Green Financial Advice is authorised and regulated by the Financial
More informationOutsourced Investment Management
Outsourced Investment Management Make Better Use of Your Time It s a simple truth in this industry: the more time you spend with current and prospective clients, the more successful you will be. Outsourcing
More informationInvesting for income. A guide to broadening your income horizons
Investing for income A guide to broadening your income horizons TABLE OF CONTENTS Welcome to our little guide 3 Seeking income in a low rate environment 4 Putting your savings to work 6 Broaden your income
More informationClosing with Confidence. Your Roadmap from Application to Closing
Closing with Confidence Your Roadmap from Application to Closing 1 YOUR ROADMAP FROM APPLICATION TO CLOSING Start to Finish: Your Journey from Application to Closing Your Milestones Preparing ONE: Planning
More informationRISK ASSESSMENT QUESTIONNAIRE
Client Name Date BLOSSOMWM.COM 925 833 9999 PO BOX 125 ALAMO, CA 94507 FREQUENTLY ASKED QUESTIONS Introduction - Understanding your tolerance for risk The concept of risk tolerance is two-fold. It refers
More informationTO FIT YOUR BUSINESS
For employers Retirement Solutions TAILORED SOLUTIONS TO FIT YOUR BUSINESS A guide for employers WORK SMARTER NOT HARDER These days, offering your workers a good pension is vital. Of course, as pensions
More informationWe, act as retail booking agents in respect of all bookings we take and/or make on your behalf.
Terms and Conditions for The Travel Concept The Travel Concept Limited company number 5849466, with its registered office address at Field Cottage, Bodiam, East Sussex TN32 5UY ( The Travel Concept, we,
More informationYour guide to Risk & Return
Your guide to Risk & Return Your money. Our expertise. This guide is for information purposes only. It should not be seen as advice. Investments in the stock market may fall as well as rise, and it is
More informationDECISIONS Lindsay Pope, Trustee Support
MANAGING DECISIONS Lindsay Pope, Trustee Support Henry Stokes: I m Henry Stokes, Managing Solicitor Northern Region at Public Trust. I m pleased to introduce Lindsay Pope, the creator of 10 Minute Trustee
More informationBuilding Your Future. with the Kohl s 401(k) Savings Plan. Kohl s supports planning for your financial future with increased confidence.
Building Your Future with the Kohl s 401(k) Savings Plan Kohl s supports planning for your financial future with increased confidence. FINANCIAL Me? Save for Retirement? YES. THE MOST IMPORTANT REASON
More informationThis risk^ profile questionnaire has been designed for the Select Ready-made portfolios called Selected Portfolios.
Select Wealth Management Limited Risk Profile This risk^ profile questionnaire has been designed for the Select Ready-made portfolios called Selected Portfolios. Investments can only be placed through
More informationsteps to financial fitne $$
#1 Fit or fat? Take our financial quiz Do you have a written household budget? Do you pay more than the minimum amount on your credit card or have no credit card debt? Do you have an emergency savings
More informationRegistered Driving for Work Policy
Registered Driving for Work Policy This policy is to be read in Conjunction with the Consortium Transport Policy References Other CLC policies relating to this policy Health and Safety Policy Transport
More informationBulk Annuity Services. Working with Willis Towers Watson
Bulk Annuity Services Working Managing with Willis Towers Longevity Watson Risk Working with Willis Towers Watson Managing longevity risk is becoming increasingly important and the market is evolving rapidly.
More informationDrawdown: the guide Drawdown: the guide 1
Drawdown: the guide Drawdown: the guide 1 Drawdown versus annuity Drawdown offers extra flexibility and the potential for better returns or more income from a pension pot - given the relatively low returns
More informationWhat is an SMSF? An SMSF is a super fund managed by its members
What is an SMSF? An SMSF is a super fund managed by its members A self managed super fund (SMSF) is an alternative to large super funds, such as retail or industry funds. These large funds can have thousands
More informationFrequently Asked Questions
Frequently Asked Questions Please note that all information, including figures and funds, described in this document were correct as at 22 January 2016. Please refer to the Interactive Investment Guide
More informationThe Metal Box Pension Scheme and AVC Plan Investment Guide
The Metal Box Pension Scheme and AVC Plan Investment Guide June 2007 A Glossary of special pension terms used in this booklet can be found on the fold-out flap at the back Contents Introduction 2 What
More informationRisk Tolerance Questionnaire
Dedicated Advocates of Your Dreams P (607) 275-1275 F (607) 275-1276 944 Dryden Road Ithaca, New York 14850 www.strebelcpa.com Personal Information Risk Tolerance Questionnaire First & Last Name: Address:
More informationFirst Time Home Buyer Guide. Are you ready to learn the steps to homeownership?
First Time Home Buyer Guide Are you ready to learn the steps to homeownership? Is this your first time going through the home buying process? If so, don t worry, this guide is designed to answer any questions
More informationInvestment Insights. How to survive the EU referendum?
Investment Insights How to survive the EU referendum? Quarter two - 2016 Policymakers have played an increasing role in the direction of investment markets over recent years and with a host of activity
More informationYou, Your Advisor & Retirement Management Systems
Savings Plan Management An asset allocation and rebalancing program for your company-sponsored retirement account. You, Your Advisor & Retirement Management Systems Saving for Retirement Through Your Employer-Sponsored
More informationAccountancy Opinion Exchange
Accountancy Opinion Exchange 8 Minute Read Accountancy Opinion Exchange 1 / 2 / 3 / 4 / 5 / 6 / 7 / 8 / Executive Summary Introduction Methodology Cost of Accountancy Services Offered What type of accountant/accountancy
More informationBUDGET-BASED BENEFITS: A NEW APPROACH TO RENEWALS
BUDGET-BASED BENEFITS: A NEW APPROACH TO RENEWALS Budget-Based Benefits: A New Approach to Renewals 1 TABLE OF CONTENTS INTRODUCTION... 3 CHAPTER ONE Start with the Budget... 4 CHAPTER TWO Make It Simple
More informationSeven Steps to Handling Your Loved One s Estate
Seven Steps to Handling Your Loved One s Estate How to close out accounts, notify key authorities, access death benefits, and begin the probate or trust administration process after the loss of a loved
More informationLIFE IS A JOURNEY WITH A THOUSAND CROSSROADS AND NO MAP.
FINANCIAL PLANNING LIFE IS A JOURNEY WITH A THOUSAND CROSSROADS AND NO MAP. You weren t born with an instruction manual. Yet, every crucial decision you take along this roller coaster ride has the power
More informationPrivate Equity Guide for Businesses
December 2017 Private Equity Guide for Businesses PRIVATE EQUITY GUIDE FOR BUSINESS OWNERS IN ETHIOPIA Private Equity (PE) is fast becoming an important source of finance for small and medium sized businesses
More informationImportant information
Important information This workbook is intended to provide general information only and has been prepared by MLC Limited (ABN 90 000 000 402 AFSL 230694 without taking into account any particular person's
More informationGROUP STAKEHOLDER PENSION. A guide to help you prepare for the retirement you want
YOUR COMPANY PENSION GROUP STAKEHOLDER PENSION A guide to help you prepare for the retirement you want Your Sanctuary Group company pension is provided by Scottish Widows. SUPPORTING LITERATURE AND TOOLS
More informationMeeting Today s Challenges with Outsourced Investment Solutions
Meeting Today s Challenges with Outsourced Investment Solutions From soaring market volatility to an increasingly complex regulatory environment, the challenges confronting institutional asset owners have
More informationThe NorthStar Group at Morgan Stanley. Investment insights without limits
The NorthStar Group at Morgan Stanley Investment insights without limits 60 East South Temple Suite 2000, Salt Lake City, UT 84111 801-322-4711 / MAIN 800-453-9408 / TOLL-FREE 801-322-7695 / FAX http://www.morganstanleyfa.com/thenorthstargroup/
More informationSTATE STREET UK GROUP PERSONAL PENSION SCHEME A guide to help you prepare for the retirement you want
STATE STREET UK GROUP PERSONAL PENSION SCHEME A guide to help you prepare for the retirement you want SUPPORTING LITERATURE AND TOOLS TO HELP YOU MAKE DECISIONS ABOUT YOUR COMPANY PENSION LITERATURE Key
More informationHelping you improve your investment portfolio in challenging markets
Aon Hewitt Retirement and Investment For Professional Clients only Helping you improve your investment portfolio in challenging markets Investment solutions for insurers Over 820 investment professionals
More informationA member s guide to investments
RETIREMENT A member s guide to investments An introduction to our approach to investment When you and your employer pay contributions to NOW: Pensions, you expect us to invest them wisely for your future.
More informationRISK TOLERANCE QUESTIONNAIRE-INDIVIDUALS
DETERMINING RISK TOLERANCE One of the important steps in formulating an investment plan is to identify your risk tolerance as an investor. It can depend on the goals you are investing toward, as well as
More informationHow to Choose your Financial Adviser
How to Choose your Financial Adviser At Worldwide Advisers we always say that the first step to picking the right adviser for you is to understand that the world of financial advice, like the world of
More informationRetires in. Bonnie plans to retire in She s somewhat concerned about fluctuating investment values, so you could call her a balanced investor.
Continuum risk-adjusted target date funds Investing in your retirement has never been easier with Continuum risk-adjusted target date funds. Think of risk-adjusted target date funds as a single-fund solution
More informationDriving Habits Questionnaire (DHQ) Please cite the questionnaire as follows:
Driving Habits Questionnaire (DHQ) Please cite the questionnaire as follows: Owsley, C., Stalvey, B., Wells, J., Sloane, M.E. (1999) Older drivers and cataract: Driving habits and crash risk. Journal of
More informationMacro View of the Main Overseas Stock Markets
Macro View of the Main Overseas Stock Markets This article was written in November 2011. The general ideas still hold true, though I have since made modifications in the posts on the members website. I
More informationTHE COMMONWEALTH ALLIANCE PROGRAM WHY IT ADDS UP TO WORK WITH US
THE COMMONWEALTH ALLIANCE PROGRAM WHY IT ADDS UP TO WORK WITH US The Bridgeway Group Matthew B. Dupon, CFP, AIF Sean A. Montgomery, CFP Theresa M. Mahoney 301 E Colorado Blvd, Suite 500 Pasadena, CA 91101
More informationFor financial broker use only. Group Income Protection. Protecting what matters. Retirement Investment Insurance
For financial broker use only. Group Income Protection Protecting what matters Retirement Investment Insurance Contents Protecting the things that matter 2 Why Group Income Protection from Aviva is great
More informationSafeguarding Your Assets from Today s Top Wealth Management Pitfalls
Safeguarding Your Assets from Today s By Doug Black and Anna Bronstein SpringReef LLC Over the last eight years, SpringReef has had the pleasure of assisting over 140 high net worth families and nonprofit
More informationFund Management Company Effectiveness
Fund Management Company Effectiveness Final rules and guidance are issued Regulatory kpmg.ie/regulatory Background With the issuance of its third and final feedback statement on the effectiveness of fund
More informationSCHOLARS CHOICE COLLEGE SAVINGS PROGRAM
Enrollment Brochure SCHOLARS CHOICE COLLEGE SAVINGS PROGRAM The 529 plan with the Legg Mason difference INVESTMENT PRODUCTS: NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE 2 COLLEGE IS WITHIN YOUR REACH.
More informationBasic business operations for the entrepreneur
A Citibank Resource for Your Business Basic business operations for the entrepreneur Jack Hollingsworth/Stockbyte/Thinkstock It takes more than skill and hard work to run a successful business. It takes
More informationThe Big Change. 26th Annual Insurance Conference Tuesday, November 28, kpmg.ca/insuranceconference2017
The Big Change 26th Annual Insurance Conference Tuesday, November 28, 2017 kpmg.ca/insuranceconference2017 KPMG IFRS 17 Global Results Haven't started yet 7% Which IFRS 17 project phase is your company
More informationInvestor questionnaire
Investor questionnaire COMPARE LEARN SAVE INVEST REVIEW What type of investor are you? As a member of a Marsh & McLennan Companies (UK) defined contribution (DC) pension arrangement, one of the most important
More informationYOUR COMPANY PENSION GROUP PERSONAL PENSION. A guide to help you prepare for the retirement you want
YOUR COMPANY PENSION GROUP PERSONAL PENSION A guide to help you prepare for the retirement you want WELCOME TO YOUR SCOTTISH WIDOWS WORKPLACE PENSION Everyone needs a plan for their retirement. This guide
More informationFiduciary Responsibilities and Oversight for Deferred Compensation Retirement Plans
Fiduciary Responsibilities and Oversight for Deferred Compensation Retirement Plans Denise Fortune- Regional Sales Director May 10, 2017 FOR INSTITUTIONAL USE ONLY. Not for public distribution. Discussion
More informationThe financial planning journey
KEY GUIDE The financial planning journey What can financial planning do for you? A good financial planner should be a trusted partner who can help you achieve your financial aspirations, and protect those
More informationRISK TOLERANCE QUESTIONNAIRE-INDIVIDUALS
DETERMINING RISK TOLERANCE One of the important steps in formulating an investment plan is to identify your risk tolerance as an investor. It can depend on the goals you are investing toward, as well as
More informationPOLICY LIMIT DEMANDS - PART II: A VIEW INTO THE OTHER ROOM
POLICY LIMIT DEMANDS - PART II: A VIEW INTO THE OTHER ROOM Negotiations during mediation can be a bit like playing poker you know what is in your hand (what you are willing to offer, or accept, to settle)
More information