At Generation Charity Consultancy we ardently believe it is crucial that your adviser is Regulated by the FCA and that your adviser and fund manager are not working in the same company. We believe that someone should be policing the fund manager and we are therefore passionate about independent governance!
Trustee duties – mitigating the risk
A large regional solicitor approached Generation Charity Consultancy having spent nearly 2 years trying to find a credible regulated service to refer charity clients to.
They found that ‘unregulated’ consultants were arranging “Beauty Parades” but were not able to give specific advice or recommend a solution, which as a result, and in their opinion, did not mitigate trustee duties & risk. The regulated services they researched were either not independent or had an excessive charging structure.
We provided the solicitors with an independent service, designed to allow trustees to fully discharge their investment liabilities and responsibilities.
Unfortunately, the financial consultancy profession is rife with unregulated advisers, and although trustees may feel they have discharged their liabilities, they are not always truly researching the whole of market and may not be obtaining the best manager for their charity.
We believe that changes need to be made to the investment advice offered to charity’s and that current, mainly unregulated advice, is a travesty.
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