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Professional Pensions Article: Investments and the importance of reporting: Stick or twist?
Good communications is critical in pensions. It’s not just a nice to have and increasing DB trustees are reviewing investment advisers where it is poor.
Trustees need clear reporting from their investment advisers to meet their scheme's needs, says Donny Hay
Effective communication is said to be the most important of life skills. Sound communication creates understanding, while also building confidence and trust - the basis of any successful relationship. However, it seems that quarterly investment reporting has not really been on top of the agenda for most investment advisers.
In any professional environment which is inherently complicated, such as investments, good communication and reporting makes good business sense but too often the importance of reporting is overlooked. It is viewed as a ‘nice' to have but for trustees it is often the difference between sticking with your provider and switching them. We are seeing increasing examples of trustee boards changing their investments advisers principally because of poor communication.