The Financial Conduct Authority (FCA) requires providers of investment pathways for pensions drawdown to set up and maintain either an Independent Governance Committee (IGC) or Governance Advisory Arrangement (GAA) to represent the interests of pathway investors. In 2020, AJ Bell Management Limited appointed PTL Governance Ltd (PTL) to provide the GAA in relation to its investment pathways.
The GAA has a duty to act in the interests of pathway investors and operates independently of AJ Bell. The ongoing role of the GAA is to assess value for money of the investment pathways provided by AJ Bell. It will raise any concerns, initially with AJ Bell and, if not satisfied, the GAA can escalate these concerns to the FCA.
The full terms of reference relating to the GAA can be found below. The investment pathways came into force on 1 February 2021. The first annual Chair’s statement relating to the investment pathways will be for the calendar year 2021 and is due out by 31 July 2022. Once available, the Chair’s statements will appear on this page.
AJ Bell Management Limited GAA Terms of reference
AJ Bell Management Limited GAA Chair’s annual Investment Pathways report 2023
Pathway investors are able to make representations to the GAA, which can be contacted in writing at:
AJ Bell Management Ltd GAA
4 Exchange Quay
Salford
Manchester
M5 3EE