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Regulatory scrutiny of cost transparency is growing for all participants in the Pensions industry, with further obligations due throughout 2018.
Governance bodies have a duty to savers to closely monitor costs, confirm their investments are operating effectively and ensure that value for money is being achieved.
Asset Managers are increasingly expected to produce accurate, granular cost data quickly and reliably for their clients, while Investment Consultants face calls to improve their transparency within the industry.
Understanding costs fully allows accurate identification of areas for optimising cost management, central to helping maximise returns to members.
Costs and charges remain widely unknown, misunderstood, and/or undisclosed, leading to a sense of them being mysterious and complex but this need not be the case.
Transparency around the full costs of running and managing a scheme can enable better decision making, strengthen governance frameworks and help with achieving long-term sustainability.
TRANSPARENT COST REPORTING
PLAYS A VITAL ROLE IN ANY SUCCESSFUL PENSION
SCHEME GOVERNANCE APPROACH. COMBINED WITH A
SCHEME’S RISK AND PERFORMANCE REPORTING, IT OFFERS A COMPLETE OVERVIEW AND PUTS
SCHEMES IN CONTROL
ClaritEx® is the next generation Cost Transparency solution for the Pensions industry. Powered by Simplitium, the service helps both the DB and DC Pension Markets access the information needed to make better investment decisions and meet increased governance obligations. In response to the ever-growing demand for greater transparency across UK financial services, ClaritEx provides comprehensive transparency of costs to the UK Pensions industry.
Cost transparency is achieved through a combination of innovative technology with a detailed and expert understanding of the investment value chain. By collecting consistent and comparable cost data from both schemes and their underlying service providers, ClaritEx delivers full assurance of costs to market participants in an industry which has, until now, struggled to achieve transparency.
ClaritEx brings comprehensive cost transparency to the UK Pensions industry through a standardised data collection process
By improving transparency, ClaritEx ensures that institutional investors have the information they need and deserve to make effective decisions
The solution delivers transparency through a controlled disclosure of costs
ClaritEx data can be used to enhance the internal analysis used for fiduciary clients’ manager selection and investment strategy
Managing costs and charges associated with a pension scheme effectively is central to its successful operation, as they can have a significant impact on schemes over the long-term. Monitoring schemes’ expenditure accurately is central to operating a scheme efficiently.
ClaritEx delivers valuable transparency services to schemes, advisers and managers that will set new standards for transparency in the Pensions industry globally.
Simplitium has successfully delivered reporting solutions to the finance industry for over a decade, significantly improving the transparency of OTC trading. The company is now applying this experience to improve cost transparency within the pensions industry, enhancing the quality of reporting and promoting efficiency through transparency.
One of the key core values of the Millennial generation is Trust – a cornerstone of the financial services industry, naturally, yet something which has been severely damaged since the Financial Crisis. Allied to this has been a growing demand for greater transparency across the industry.
One of the key core values of the Millennial generation is Trust – a cornerstone of the financial services industry, naturally, yet something which has been severely damaged since the Financial Crisis. Allied to this has been a growing demand for greater transparency across the industry.
Put simply, asset managers (like the pensions industry in general) would benefit GREATLY from adopting a technology mentality in their operations. Rather than the general sense of inertia which pervades, managers should be seeking to build digital solutions quickly using an agile mindset with a dedicated commitment to refine their services regularly.
Read the ClaritEx service and technical overviews or check out some of our other resources.
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