Consolidation services offers trusteeship, governance, admin and more to schemes
Professional trustee firm Dalriada has launched Dalriada.Together, a consolidation service that offers trusteeship, governance, administration, and everything else associating with running a pension scheme, while allowing schemes to retain control of their investments and journey planning.
Scheme advisers and other third parties will be managed through Dalriada’s selection panels, to deliver their service and responsibilities on time and to budget within a single fee. There will be a trustee board which takes full legal responsibility for regulatory compliance.
There are already twenty-five schemes working with Dalriada.Together.
Vassos Vassou, director of Dalriada Trustees, who is responsible for Dalriada.Together, said: “Running a defined benefit pension scheme is more complicated, time-consuming, and riskier than ever.
“Through our high-quality trusteeship and governance offering, Dalriada.Together works with employers and pension scheme sponsors to ease the burden and mitigate the risks.
“We emphasise close collaboration and the benefits of consolidation of services to ensure strategic objectives are delivered effectively and efficiently. We act as a single point of contact for the members, the sponsor and the advisers.
“While this approach could be adopted by any scheme, we believe that this will be particularly attractive to those schemes which may be looking to access an affordable and robust governance, administration and investment solutions and have been unable to find them thus far. We can provide this from day one.
“We are also looking to work with others in the market who may wish to join our panels and continue to deliver best outcomes for our clients.”
Chris Roberts, managing director of Dalriada Trustees continued: “The running cost of smaller pension schemes can appear poor value for money on a cost per member basis.
“Dalriada.Together provides a direct response to the Pensions Regulator’s call for innovation in governance for smaller schemes. Dalriada is in a unique position with access to considerable internal resources, from which we have developed an alternative approach to our appointments.”
