RiskFirst’s pensions risk analytics platform will allow Broadstone to offer a holistic actuarial and investment risk management solution to trustees and sponsors, generating enhanced consistency of approach and results.
Broadstone, which offers pensions, actuarial and investment services advice to small and medium-sized sponsors and trustees, has signed up to PFaroe. Through PFaroe’s analytics, Broadstone can improve monitoring capabilities, obtain greater insights into risk factors affecting funding levels, and provide an integrated approach to risk management across assets and liabilities.
Paul Noone, Director, Trustee Services, Broadstone, says: “Assets and liabilities are very much interlinked and should not be viewed in isolation. By offering actuarial and investment advice using the same system, based on the same numbers, our clients will not only benefit from cost savings, but will receive a more consistent, reliable assessment of risk. The holistic nature of PFaroe, combined with the platform’s ability to provide valuations and model scenarios in real-time, and its strong reputation in the market in which we operate, made it an obvious choice for us.”
Noone adds: “In the past, the use of such detailed monitoring and analytics has tended to be the preserve of the larger fund. Broadstone specialises in the smaller end of the market, and we believe that smaller pension schemes should be able to access the same innovative solutions and capabilities as larger schemes. PFaroe is a means for us to provide that progressive kind of solution to our clients.”
Matthew Seymour, CEO, RiskFirst, comments: “The value of a holistic approach to risk management cannot be overemphasised, and we are very pleased to be working with Broadstone to help them to drive their business – and schemes in the smaller end of the market– forward with leading analytics.”