Investment services

Investment consultancy providers

Update for 2024 - questions about objectives for investment consultancy providers

This year, we will ask you about setting and reviewing objectives for investment consultancy providers. If you have previously added an investment consultancy provider to your scheme’s record, you will need to answer new questions about them to complete this section.

Questions

Have the trustees of the scheme set objectives for this investment consultant?

Trustees of a relevant trust scheme must set objectives for each investment consultancy provider and review the provider’s performance against those objectives at least every 12 months. They must also review the objectives at least every three years.

Further information about these requirements can be found in our guidance on setting objectives for your investment consultant (opens in a new tab).

When were the objectives set?

You should provide us with the day, month and year when the objectives were set.
Where an investment consultancy provider has been appointed on or after 1 October 2022, you must set the objectives by the end of the day on which the appointment takes effect.

When did the trustees last review the performance against these objectives?
You should provide us with the day, month and year when the performance against the objectives was last reviewed. Performance against objectives set for investment consultancy providers must be reviewed at least every 12 months.

Explain why there has not been a performance review

Please provide an explanation of why there has not been a performance review. You can enter up to 4,000 characters.

When were the objectives last reviewed?

You should provide us with the day, month and year when the objectives were last reviewed. You must review and (if appropriate) revise an investment consultancy provider’s objectives at least every three years, and without delay after a significant change in investment policy.

Where an existing investment consultancy provider has objectives which were set before 1 October 2022 (which is when TPR took over responsibility for monitoring compliance with these requirements), you must complete the first review of those objectives within three years from the date they were set.

Explain why there has not been a review of the objectives

Please provide an explanation of why there has not been a review of the objectives. You can enter up to 4,000 characters.