CHALLENGES TO SERVICE PROVIDERS

Service providers have played a major role over the years by doing the outsourced function of the administration of funds. With time, unfortunately, they have become administrators of trustees. What is needed is a clear regulatory regime to regulate the relationships between trustees and administrators and not to rely only on the service agreement between the two parties . . . Many service providers have everything in-house –administration services, investment managers, actuarial services, insurance etc. Therefore, service providers could influence trustees to keep all business in the same house