This service is available to pension funds that do not subscribe to any of our benchmarking services. The "Health Check" is a one off assignment where we review the commercial and service performance of the custodian. It is by its nature restricted, but does allow a reasonable comparison of the pension fund to its peer group and best market practice. The "Health Check" covers three areas:
- Service quality: we produce a benchmarking report covering all the services offered to the pension fund by the custodian. It provides peer group comparison of the pension fund and highlights anomalies. The analysis covers a 4-6 month period, dependent upon historic data availability.
- Fee comparison: with information provided by the pension fund, we compare actual invoices versus the custodian rate card. We then asses the results versus peer group. Peer groups can be defined by each client and are usually according to size or type e.g. corporate, local authority.
- Contractual review: we compare the custodian's legal agreement against other custodians. We explain any differences and their implications.