PTL to conduct member value review for R&M's DC FM scheme clients

River and Mercantile (R&M) has appointed PTL to conduct an independent value for members review for its defined contribution (DC) fiduciary management (FM) pension scheme clients.

The review will aim to help R&M’s DC FM clients prepare for their annual chair’s statements.

PTL’s report will consider value for members across a range of categories, including overall costs, transaction costs, investment strategy, performance, risk and governance, and ESG and stewardship.

The service for the FM arm of R&M will be delivered by PTL’s Governance Advisory Arrangement committee.

R&M director, solutions and head of DC, Niall Alexander, said the firm was “delighted” to have chosen PTL to conduct the review after considering “a number of providers”.

“The decision was based on their knowledge of the regulations and their application, and their thoroughness,” he continued.

“We are proud to be a fiduciary manager that takes the financial security of its DC pension scheme clients (and their members) seriously and this review will help assure those clients that their employees’ financial future is in good hands.”

PTL Governance Arrangement Advisory committee chair, Keith Lewis, added: “We’re impressed by R&M’s desire to lead the way in demonstrating cost transparency, governance, and value for money, which is underscored by their appointment of PTL to provide an independent assessment.

“PTL is uniquely placed to deliver this review, bringing a detailed understanding of the regulation around assessing value for members and transaction costs, as well as extensive experience of drafting chairs’ statements for our own DC clients.

“We look forward to applying this for the ultimate benefit of R&M’s DC FM clients.”

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