Triathlon and the CMA review

For those who know me, you’ll appreciate that many a weekend or evening I can be found in a pool, on two wheels or running around outside. It was on my latest long pool swim, after dreaming about holidays and being somewhere more exotic than the leisure centre, my mind turned to Fiduciary Management and the CMA review, and exactly why it was indeed quite like triathlon. 

Here are 4 reasons why:

1. No drafting rules – drafting is a term for when one cyclist rides close behind another to enjoy their slipstream. No longer can providers sit behind their wider name or relationship to get an easier journey in. Advice and training material now need to be clearly defined and presented to potential clients.
2. Wiggle reviews – I would never buy a pair of trainers without comparing what is out there to ensure I am getting the best value for money and something that suits my needs. How far I’m going or the type of terrain I’m on, I’d also read reviews and perhaps speak to someone in the shop who knows more about the options available. Mandatory competitive tender exercises are now being introduced to ensure clients don’t just stick to what they know or buy the best known brand.
3. Mixed team relays – so instead of doing the whole triathlon yourself, you can create a team of the best swimmer, cyclist and runner to hopefully achieve the best outcome. Whilst not linked to the CMA, this is something that we are seeing more of in fiduciary management. Using an LDI manager, plus a passive investment manager alongside a fiduciary mandate for growth/illiquid assets to arrive at the best solution.
4. Costs – I have spent quite a lot of money over the years to ensure I have all the prettiest and shiniest things in an attempt to make me go faster, from activity trackers to wet suits. It’s a big investment and something I wouldn’t want to give up as I’m fully invested. Fiduciary management too is a long term investment – clients, with the help of providers, need to understand the costs of going in (and coming out) but also the ongoing (and perhaps unexpected costs).

Hopefully this makes the CMA review and the remedies a little more relatable for some. And helped to keep my mind busy on Saturday afternoon!

*This is my broad interpretation. We would be happy to share details of the CMA review and remedies to help you to understand what it actually means for you, triathlon or no triathlon analogy.