20 November 2007

eShare plans to launch adviser monitoring module

Following feedback from some of the industry’s leading schemes, eShare are developing a module to specifically tackle the issue of monitoring adviser appointments.

Most schemes ensure they have a process to help with evaluating their Trustees effectiveness; however, fewer have implemented a procedure to aid them with the issue of adviser appointments and monitoring their performance.  Those that do have a procedure find the process very time consuming.

At the recent eShare Governance Forum the topic of adviser appointments was first on the agenda.  Members of the Forum discussed what they were currently doing and what they planned to do in the future.  The methods currently used ranged from those with dedicated subcommittees conducting full reviews, to those who were in the initial stages of implementing an effective solution.

Adviser appointments are an important issue to address and are something which is currently on everyone’s governance agenda.

eShare are currently undertaking a development project to create a module to help schemes deal with issues surrounding reviewing adviser appointments and monitoring of their performance.

The module will automatically pull together all supporting information from the rest of the eShare knowledge base, including any issues raised by Trustees and others and any decisions on which that adviser has advised as well.  The module will also collect feedback from various sources on the adviser so a properly informed review can be conducted.

The new module manages the review process, keeps an audit trail to the results and ensures the outcomes are implemented.

“When you are dealing with numbers it is easier to evaluate performance because it’s quantifiable,” said eShare Managing Director Alister Esam.  “Advice is more subjective, the key is to ensure you are making the most informed decision possible.”

“The outcome is also not typically a simple a ‘hire or fire’,” continued Esam, “but rather a plan of how that adviser can best adapt to suit the needs of the fund.  Those changes will be managed by eShare.”

Working with their clients, eShare are developing a module which integrates seamlessly into their current system to create a complete governance solution which smaller schemes can benefit from.

The new module is expected to be available from Spring 2008.

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