LGPS fiduciary management consulting and oversight
Fiduciary management lifcycle advisory services – from building out their capabilities, an initial assessment of offerings, and ongoing oversight.
We can help LGPS pools and funds all the way through their fiduciary management lifecycle.
From building out your capabilities, an initial assessment of offerings, and ongoing oversight. We do not offer fiduciary management services ourselves allowing us to provide truly independent advice.
Our fiduciary management advice team of 19 people are either regulated by the FCA to give investment advice, or are actively working towards this status. This means our clients can rely on our advice.
We have been providing fiduciary advisory services to UK pension schemes since 2008. We closely followed the expansion of fiduciary management from just a handful of schemes, to representing around 19% of the entire DB pension scheme market in the UK.
Dedicated team of LGPS specialist advisors, regulated by the FCA
Providing fiduciary advice services to schemes in the LGPS since 2008
Conducted 80+ reviews and 45 fiduciary projects in 2024
In-depth research and ratings for 11 fiduciary managers
Broad depth of investment strategy advice, investment research, and pensions knowledge
The service
- Fiduciary management capabilities build support: a governance review to help LGPS pools decide on the right investment model for the future.
- Initial assessment of a fiduciary manager: which fiduciary manager will deliver the best result and how to deliver the best partnership possible. We will help LPGS Funds get the right service on the right terms.
- Onboarding and transitions review: we will help make sure that the contract guidelines are aligned with LGPS fund’s expectations. Our specialist transitions team can also review the fiduciary’s asset transition plan to provide an independent review on this high-risk area.
- Ongoing fiduciary management oversight: we will provide an independent view on the progress of a LGPS pool’s fiduciary management – plus check that everything is running smoothly “under the hood”.
- Fiduciary performance review: a detailed review of how an LGPS pool’s fiduciary manager is performing, covering key areas such as: return achieved vs. risk taken, Sources of performance, Performance compared to their fiduciary peer group, asset classes used and not used, Review of benchmarks, ESG effectiveness and comparison against peers, fees and costs and a view on the competitiveness of these costs, Isio’s fiduciary manager research rating, and any changes Isio make over time
- Where Funds may need to choose a new pool: we can support ensuring LGPS funds choose the right pool for now and the future through a robust assessment and comparison of the offerings in the market.
We understand that the LGPS landscape is changing with negative cashflow positions increasing, funding levels changing from recent levels, and employer specific investment strategies and insurance becoming more common. We are at the forefront of thinking in these areas and can use this expertise to provide best a best in class advice service for out clients.
Why Isio
We are the largest and most experienced fiduciary oversight team in the UK, with over 17 years of experience. Our clients range from £10m to £1bn+ mandates, using a wide range of governance approaches and fiduciary managers. We have helped a number of very large schemes with bespoke arrangements, including delivering two significant OCIO projects over 2024 alone. The combined experience and support of our wider pensions practice give us all the tools to add value to you.
Enabled by technology
Isio maintains a Fiduciary Management Performance Database using the Global Investment Performance Standard (“GIPS”). This allows us to compare how fiduciary managers are performing for clients, and compare to their peer group. This will provide a further useful lens to evaluate the success of their decisions, the balance between risk and return, and how a manager has performed in different economic climates.
Isio NOVA is Isio’s investment strategy modelling tool. It allows us to assess a fiduciary manager’s strategy, from understanding the sources of investment risk, reviewing the suitability of asset class assumptions, and assessing the impact of making strategic changes (such as changing the investment return, or adding/removing new asset classes over time).
Get in touch
Paula Champion
Partner & Head of Fiduciary Management Oversight
Andrew Singh
Head of Public Sector Investment Advisory
Paula Champion
Partner & Head of Fiduciary Management Oversight
paula.champion@isio.com See full profileExplore our services
Get in touch
Talk to us today to see how our bolder thinking can get you better results.