Consulting and admin firm Buck has signed up to use ClearGlass’s pensions cost transparency platform, which will allow it to obtain cost transparency from the asset managers used by its pension scheme clients.
Buck has informed these asset managers that ClearGlass has been chosen as Buck’s partner to obtain required data, and ClearGlass will soon get in touch with the asset managers.
John Breedon, head of strategic, asset, and risk solutions at Buck, said there would be “significant value” to its pension scheme clients in the transparency datat collected by ClearGlass.
He added that Buck’s clients will be able to deliver better member outcomes in line with Financial Conduct Authority (FCA) objectives and also help plan sponsors “fulfil the social contract with their employees and pension scheme members”.
Discussions are already well-progressed with several other major consultancies and pension schemes as ClearGlass expects to have additional partnerships to announce in the near future, it was announced.
ClearGlass, co-founded by Chris Sier last year, continues to expand in the pensions cost transparency space, with more than 220 pension scheme clients on board, representing more than £250bn (€292bn) in assets, managed by more than 275 asset managers via more than 2,500 products.
Sier said the firm was pleased with Buck’s decision to “choose our platform to obtain and present this crucial new data as this new wave of transparency continues to sweep across UK ownership and management industry.”