LONDON (20 November 2015) – Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE:AON), has responded to the announcement of a review of the asset management market by the Financial Conduct Authority (FCA).

Tim Giles, partner at Aon Hewitt said:
“We welcome the FCA review as we feel it will provide a great opportunity to debunk some of the myths that surround the role of the investment consultant. In our view, the investment consulting market operates competitively, with many players and no barriers to entry. Pension scheme trustees are freely able to move to new providers and there is strong competition on price and quality. Market surveys also point to high levels of satisfaction. The standard of pension trustees has never been higher, and they make sure that they get the service they need from their investment consultants.

“Trustees and sponsoring employers now face improved choice as a result of competition driving innovation in the market. At Aon Hewitt we see our role as one of working with trustees and employers to improve their outcomes.  We are totally focused on getting the best outcomes for our clients, in whatever way works best for them. If we tried to do anything else, our clients would not continue to employ us.”

Tim Giles continued:
“We regard the advisory or fiduciary approaches to consulting as merely routes of implementation, and we are neutral between them. Our strategic advice to clients is structured to ensure that the solutions we suggest reflect this implementation neutrality. Once we have a firm understanding of the challenges and opportunities facing a client we propose a strategy that can be implemented however the client wishes. The client then has the choice of their preferred route of implementation. We constantly look at our routes to implementation to make certain they provide cost effective access to the deep subject expertise that we can offer to meet the demands of the complexities of investment markets. This ensures that we both maintain a quality approach and remain competitive.”
 

Notes to Editors

About Aon
Aon plc (NYSE:AON) is a leading global provider of risk management, insurance brokerage and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 69,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative risk and people solutions. For further information on our capabilities and to learn how we empower results for clients, please visit: http://aon.mediaroom.com/

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Media Contact
For further information please contact:
Colin Mayes                                            Marina Jane Sanchez
Aon Hewitt                                              CNC
01372 733689                                          020 3219 8811
colin.mayes@aonhewitt.com                     marina.jane-sanchez@cnc-communications.com