Question #2 for your pension consultant or investment consultant
2) What other services does your firm, or a related entity, provide? Where these services could create a conflict of interest (perceived or otherwise), how does your firm manage this to ensure that you are able to act in the best interest of the client?
As a fiduciary, you will want to ensure that there are no lines of business within the firm, or alliances with other firms, that could possibly create a conflict of interest or impair the consultant's ability to offer unbiased advice.
While having a plan to manage a potential conflict of interest is a must, consulting firms that have no ties or affiliations with investment management firms, or other financial institutions and who do not offer services that could conflict with their consulting business are best positioned to provide a client with unbiased advice on investment issues.