Moving into professional independent trusteeship after 38 years as a consulting actuary means I’ve had to learn to switch off an urge… the urge to give advice.
My experience on the other side of the fence has shown me a great professional trustee is someone who can take advice, and I’m now really looking forward to taking advice from others. Yes, my experience means I’m in the ideal position to robustly challenge the advice trustee boards I sit on are given, but it also means I understand the real benefit of that advice.
Collaboration is vital
Developing a real sense of collaboration with your fellow trustees means everyone feels part of a trustee board acting in unity. Together you feel part of a whole - and this helps ensure everyone has input into the decision making process and everyone understands the advice they receive.
The idea of collaborating with yourself as a sole trustee always makes me smile but collaboration is still important, even in sole trustee cases. You still need to collaborate with your colleagues who help support each client, with pension advisers and the pension scheme sponsor.
Over my years as a pension scheme actuary, I’ve seen a massive range of problems and challenges. I see my role now is to use this experience to help the pension trustee boards of the future address and solve the problems and challenges they face. By helping co-trustees take, challenge and analyse the professional advice we receive, we can reach the right decisions to protect and deliver benefits for our scheme members.
Being a professional trustee isn’t completely new to me – I have actually been one for several years. Having it as my main and only role is new and I’m looking forward to working with new pension trustee boards and advisers from across the pensions industry with this different hat firmly on my head!
Watch an interview with Stuart here
‘ PSGS & 20-20 Trustees merge to form Vidett ’
Punter Southall Governance Services (PSGS) & 20-20 Trustees (20-20) have today announced they...
‘ Don’t be surprised that your gilt funds are being treated like an emerging market ’
You may have seen or heard about the article in the Financial Times about how Insight...
Vidett is a trading name of Vidett Governance Services Limited, Vidett Trust Corporation Limited & Vidett HRT Limited
Registered in England and Wales numbers 3021321, 10842337 & 745598
Registered office: 3rd Floor Forbury Works, 37-43 Blagrave Street, Reading, RG1 1PZ
