JAN 2020 blog

Quiet on the blog updates, busy on the RFP front!

Sion Cole |20-Jan-2020

Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

So we wrote our first fiduciary blog in May 2019. We had over 20,000 hits. This got us all excited and we set out with great plans to write a second blog and maybe even a series. But what happened next really derailed our plans of being the number one fiduciary blogger. We were hit with a flurry of RFP activity. They came in thick and fast. We had no time to casually write about how asset managers might be best placed to serve pension schemes as their fiduciary manager. Instead we had a chance to prove it. I was only a couple of months in. This was supposed to be the honeymoon period. Now the pressure was on to see if we could deliver the goods. We set ourselves an initial goal of moving from long lists to short lists. The whole BlackRock team sat down and set about revamping our RFP submissions. The team were incredible. They shared ideas, wrote answers, re-wrote answers and shared many late-night pizzas in the office. As we refined our proposition our efforts started to get rewarded. As spring broke through, we found ourselves in finalist presentations and then in the summer, site visits.

Truly humbled by what happened next.

In 2019 pension schemes with combined assets approaching £9bn appointed BlackRock to serve them as their fiduciary manager. The late nights and early mornings have all been worthwhile. We have been given the opportunity to help thousands upon thousands of individuals secure their retirement income. Household names have partnered with us to help them solve their pensions problem. Through our efforts we will be helping some of the UK’s most recognised names secure benefits for their members. In turn, this will also be putting these companies in a financially stronger position for the benefit of the existing workforce. The fiduciary team at BlackRock feel deeply blessed to be in such a privileged position. We are excited to be working alongside some of the industries most respected professional trustees and third-party evaluators.  

Why have these clients chosen BlackRock?

Well there are a number of reasons. One could be that every single one of our fiduciary clients has seen funding level improvements since inception. The second reason surprises many people. Some of our proposals had up to 80% invested in non-BlackRock investments. So, our excuse for not writing a second blog has been our focus on new and existing clients. We have also bolstered the team and are planning to add more people early in 2020. There is a real buzz within the BlackRock fiduciary team and we are looking forward to 2020 and beyond. We hope to restart the blog, but look, who knows. . .

Sion Cole
Managing Director
Sion Cole is well known for helping UK pension scheme trustees and their corporate sponsors meet their liabilities and funding goals.
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