Consulting firms that have one or more conflicts of interest oversee more than half of pension assets reported to be under the care of pension investment consultants, according to new research.
Diligence Review Corp., a New York-based specialty consulting and research firm, unveils this finding in "U.S. Pension Investment Consultants: A Report for Fiduciaries, Internal Audit and Risk Management Professionals." The January 2013 report discusses findings with respect to pension investment consultants concerning business structures and other business practices that may result in conflicts of interest.
The study's data is derived from the Form ADV FOIA file, dated January 2, 2013, for advisors registered with the U.S. Securities and Exchange Commission as of December 31, 2012.
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