Marvin OnumonuHymans Robertson has launched ST³, a service offering tailored support, data, insights and strategic leadership for sole trustees.
A centralised client team will deliver ST³, working to fit around the experience and working pace of each sole trustee.
The service will provide strategic support and expert peer advice, helping trustees make quick and efficient decisions.
Plug-and-play data will also be available, allowing trustees to access what they need when they need it.
ST³ is built on what Hymans Robertson calls the 3Cs of sole trusteeship – concise, continuous and collaborative.
Communications will be focused and concise to help with decision making, while trustees can access real-time data and advice as needed.
The service will also bring Hymans Robertson’s team together with the expertise of sole trustees to improve outcomes.
Shani McKenzie, head of sole trustee services at Hymans Robertson, said: “We’ve seen the number of sole trustee appointments steadily rising for almost a decade.
“Alongside that, with schemes closing in on their endgames sponsors are keen to make strategic progress, often introducing sole trustees to support that.
“We’ve built on our concise, continuous and collaborative foundations to launch a new service that brings together the tailored service sole trustees need today, while at the same time responding to the emerging trends we expect in the future.”
McKenzie added: “Sole trustees have centralised approaches but find they are managing multiple pension schemes and service providers.
“Having a partner that integrates seamlessly with their systems and ways of working will likely be a defining approach for future success.
“The design of our centralised and specialist team means we can work with sole trustees in a way that optimises their governance structure and consistently delivers a service that is concise, continuous and collaborative.”
She said: “The combination of a regulatory drive to focus on endgame planning and the fully professional nature of sole trustee boards means sole trustees are seeking a different service from their advisers.
“The strategic leadership we will offer will support sole trustees in aligning stakeholders, create strategic agility and provide a sharp focus for scheme progress.”
