I’m an obsessive trend-tracker and it came as no surprise when friends and colleagues started forwarding an article from Bloomberg about the rise of the […]
Pension Funds continue to be victimized at an alarming rate. Whether it is by brokerage firms selling them inappropriate products or “consultants” giving them self-serving and costly advice, the damage to corporations, communities and taxpayers is rampant.
We see a variety of abuses all of which add to the misery of unsuspecting corporate funds and those designed to support local government retirees across the country.
The abuse often starts in the place pensions would least suspect. The consultants they hire to protect them from predators and their own shortcomings in financial matters are often putting the consultants’ interest ahead of what is best for the pensions. The consultants are hired to serve as a “gatekeeper” charged with selecting the managers who are awarded lucrative contracts to manage the funds’ investment portfolios. […]