It is also worth noting, as one respondent pointed out, that some consultants such as Stamford Associates specialise in one asset class or strategy and so it was “unfair” to judge them on a category that considers the ability to take on board new products.
“Stamford Associates’ client base is very equity-heavy and this is what they as a house focus on, so I thought it was a bit of an unfair question regarding taking on board new products,” said the respondent. “They have been promoting highly-concentrated equity portfolio years before other consultants picked up the ideas. Some of the consultant relations people may not know because it spans back many years.”
Ultimately portfolio institutional tried to be as fair and transparent as possible by only taking into account answers from asset managers familiar with consultants but, as previously mentioned, there are other factors and nuances not addressed in the survey.
It is important to note each consultant had its fair share of positive and negative feedback, but what should ultimately matter is the individual relationship between the consultant and the client, and the quality of service being provided. Each pension scheme is unique and many consultants will be nurturing successful and productive relationships with clients to meet their needs, regardless of the survey’s findings.
