Adviser and service provider review, management and procurement
Trustees are responsible for appointing their own advisers and it is important that any incumbent is:
- Providing the service/advice required by the trustees (in terms of security, efficiency, innovation etc) *
- Providing value for money
- Achieving any performance standards set
- Interacting and communicating well with the trustee board
( *Please be aware that the Financial Services Authority does not regulate trust advice.)
We can work with trustees to ensure that their advisers and service providers are effectively managed. This will often entail the production of an annual business plan and review of fee budgets.
Where change is required, we can provide a tailored procurement process that fits the client, ranging from basic help with invitations to tender, to running a full process, which might include:
- Initial benchmarking and advice around long list selection
- Drafting of invitation to tender
- Organisation and attendance at a 'bidders conference' and/or individual meetings
- Review of tender submissions and advice on short list
- Organisation of and attendance at presentations
- Site visits and demonstrations
- Final decision making and liaison with all tendering parties
