Most Pension Fund Boards are sincerely convinced they define their strategy on basis of their own insights.....

In practice, the leading Investment Consultant - as trusted advisor - often has a strong influence on the board.

Very often the authority of the Investment Consultant is so dominant that it's "not done", permitted or 'seen as wise' to discuss the advice of the consultant. Nor is a second opinion seen as appropriate, as it might be regarded as a matter of distrust in the trusted advisor relationship.....

Unfortunately in these situations it is quite often the Investment Consultant, instead of the Pension Find Board, who implicitly defines the Strategic Plan, Risk Appetite and Asset Mix......

Of course this doesn't apply for YOUR Pension Fund....

In this case DON'T view or download the next power point presentation 'On how Strategic Advice got Outsourced'....
Strategy Outsourcing

Scroll through the presentation by pressing the right arrow button.

Confidence Fallacy
Last but not least: As most Investment Consultants advice more than one pension fund, it is not unlikely that a lot of pension funds get more or less the same kind of advice. This might give pension fund board members a false notion of confidence with regard to their (own) chosen investment strategy.

All the more reason to be extra vigilant that the chosen strategy is finally YOUR strategy and not that of your consultant......

Remember.....  Never Ever Outsource your Strategy!

Related Links 
- Download PDF: On how Strategic Advice got Outsourced
- Donald Duck Search Images 

What's that special gift an actuary has, that he always succeeds?

Never mind how complex the situation, an actuary always has that one missing magic equation ready to astonish his audience....

Some accuse actuaries of always talking their way out of a problem. They stress that actuaries misuse their formulae to force decisions 'their way'.

We all know that's not true. Yes, an actuary always survives and actuaries are not biased or irrational.

It's the study, our experience and our trained 'gut feeling', that makes us succeed, as the next cartoon shows!

(Click [twice] on the cartoon for the enlarged version, to get a clear sight at the equations)


So now you know why an actuary is not easily daunted!