The number of trustees seeking guidance around the concept of fiduciary management has increased according to Muse Advisory, as many are struggling to understand the various management styles available.

The independent pensions governance and administration consultancy said that there has been a significant rise in interest levels for fiduciary management workshops.

Muse Advisory director Mark Hodgkinson said: “Fiduciary management is here to stay and may well be the only realistic option for those trustees that face a shortfall of the skills and resources needed to implement their investment strategy effectively.”

Hodgkinson added that it is possible for trustees to be concerned about making a potentially costly mistake surrounding fiduciary management. “Only by being clear about their needs and carefully evaluating those firms whose fiduciary management service offers a close match, will trustees minimise the risk of appointing a fiduciary manager that is not right for them,” he said.

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