CMA orders shake up of advisors to pension trustees
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LONDON (Reuters) - Poor competition in the market for advice to pension fund trustees has resulted in "substantial customer detriment", Britain's Competition and Markets Authority said on Wednesday.UK pension schemes have total assets of 1.6 trillion pounds, and the dominant advisors are Aon , Mercer , and Willis Towers Watson .Half of pension schemes buy fiduciary management that makes investment decisions on their behalf, from their existing investment consultant.The CMA said it found that..