Transparency Statements

Transparency Statements are a great way to show your support for our international campaign and to align your organisation with our intention to encourage greater transparency in financial services, right around the world. 

 

We believe that higher levels of transparency are a pre-requisite for fairer, safer and more efficient markets that deliver better value for money and better outcomes for consumers. 

 

Furthermore, because of the correlation between transparency and trustworthiness we believe our work will also have a positive impact on the reputation of the financial services market as a whole. 

 

That’s good news for all market participants and all governments, because the world needs a financial services sector that is trustworthy. 

 

To provide your transparency statement please complete the sentence: 

 

“I believe there ought to be higher levels of transparency in financial services because..........................................................”  

 

and email it to: 

 

andy.agathangelou@transparencytaskforce.org

Gavin Perera-Betts

Chief Customer Officer | NEST Corporation

“I believe there ought to be higher levels of transparency in financial services because it is key. NEST places a high value on transparency and we publish our costs and charges on our website. We believe the most important purpose of clarity and transparency around costs is for scheme trustees and governance bodies to be able to understand the costs they’re taking on and ensure they’re getting best value for money for members. This due diligence must be done and be seen to be done by those who’re acting in members’ interests. It mustn’t fall to members to have to interrogate large amounts of complex data, which is unlikely to lead to improved decision making and outcomes."

 

Sophie Baker

London Bureau Chief | Pensions & Investments

“I believe there ought to be higher levels of transparency in financial services because we need to restore the trust of the man on the street."

 

Kaz Aston

CEO | W1 PR 

“I believe there ought to be higher levels of transparency in financial services because the industry and public need & want it post Brexit."

 

Robert Reid

Readers Editor | Money Marketing

“I believe there ought to be higher levels of transparency in financial services because people have a right to know what happens to their money."

 

Gavin Palmer

Shareholder Nominated to the AGM Committee | Sharesoc Private Investor Association

“I believe there ought to be higher levels of transparency in financial services because trust and being your word as my bond generates win-win situations. Without transparency in the internet world reputations will be shredded with their organisations."

 

Alexander Rush

Senior Pensions Lawyer | Stephenson Harwood LLP 

“I believe there ought to be higher levels of transparency in financial services because it is vital that the effect of charges is known as far as reasonably possible when making long term investment decisions."

 

Robert Davies

Director | Smart-Beta Investments Ltd

“I believe there ought to be higher levels of transparency in financial services because it helps investors make better decisions."

 

Clare Reilly

Head of Corporate Development | Pension Bee

“I believe there ought to be higher levels of transparency in financial services because the economy should work for everybody."

 

Peter Uhlenbruch

Research Assistant | Ownership Matters

“I believe there ought to be higher levels of transparency in financial services because transparency is foundational to value-positive markets and communities."

 

Renny Biggins

Pensions Technical Officer | TISA

“I believe there ought to be higher levels of transparency in financial services because the industry is currently perceived as confusing by consumers. In order to promote engagement, we need to break down those barriers and make it easier to understand. However, we should be mindful that too much information will confuse consumers."

 

Hugo Wuyts

Pension Board Member | LB of Barking & Dagenham

“I believe there ought to be higher levels of transparency in financial services because it is in everyone's interest."

 

Edward Smythe

Senior Researcher | Tomorrow's Company

“I believe there ought to be higher levels of transparency in financial services because the incumbent system is not fit for purpose in terms of delivered outcomes for savers or its impact on the 'real economy'. Only with higher levels of transparency can we identify those areas that can be radically improved."

 

Dipo Akinrinlade

CEO | Financial Freedom Academy

“I believe there ought to be higher levels of transparency in financial services because it is in everyone's best interest."

 

John Hunter

Chairman | UK Shareholder's Association

“I believe there ought to be higher levels of transparency in financial services because it is fundamental to the trust necessary for a viable industry."

 

Julia Dreblow

Founder | sriServices & Fund EcoMarket

“I believe there ought to be higher levels of transparency in financial services because investments are what shape our future."

 

Madison Marriage

Asset Management Correspondent | Financial Times

“I believe there ought to be higher levels of transparency in financial services because people need to be able to trust those responsible for managing their money."

 

Tom Tugendhat MBE MP

Member of Parliament for Tonbridge and Malling            

“I believe there ought to be higher levels of transparency in financial services because it is the only way that markets can function without distortion to the benefit of the true customer, the 

individual.”

 

Helena Morrissey

Former Chair | The Investment Association      

“I believe there ought to be higher levels of transparency in financial services because it's the very starting point for establishing trust."

 

Dr. Kara Tan Bhala 

President and Founder | Seven Pillars Institute for Global Finance and Ethics   

“I believe there ought to be higher levels of transparency in financial services because transparency is a pro-ethical condition that enables us to fulfil our fiduciary duty and to achieve justice and the common good. Assiduous transparency yields continuous trust.”

 

Arno Kitts 

Founder & Chief Investment Officer | Perspective Investments

“I believe there ought to be higher levels of transparency in financial services because transparency supports trust, and trust is essential.”

 

Angela Rayner

Former Shadow Pensions Minister, now Shadow Secretary of State for 

Education and Shadow Minister for Women and Equalities

“I believe there ought to be higher levels of transparency in financial services because pension funds should be run with a constant eye on efficiency – every penny should be accounted for therefore costs must be transparent and easy to understand – they must be explainable without jargon. The duty is to pay pensions and ensure that the sponsoring employers enjoy the benefits of reduced costs, we must avoid funds entering the Pension Protection Fund, it should be the last option.”

 

Frank Whiffen 

Head of Strategic Business Development | Ferrier Pearce

“I believe there ought to be higher levels of transparency in financial services because this will enable better decision making. In turn, this should be communicated in an engaging way so that sensible and informal decisions can be made.”

 

Phil Ninness

Business Development Manager | Accurate Data Services

“I believe there ought to be higher levels of transparency in financial services because consumers are obtaining different views and news and there is a trust issue. People need honesty in plain English.”

 

Iain Cowell

Head of Investment Solutions, UK & Ireland | Allianz Global Investors 

"I believe there ought to be higher levels of transparency in financial services because sharing clear and understandable disclosures will drive positive innovation and can empower the customers of the industry to improve their long-term outcomes."

 

Martin Campbell

Director | Beacon Strategic

“I believe there ought to be higher levels of transparency in financial services because for decades the industry has systematically ripped off the customer, while hiding behind deliberate and unnecessary opacity, to become wealthy at the customer’s direct expense.”

 

Steve Conley

Business Development Director | Workplace Pensions Direct

“I believe there ought to be higher levels of transparency in financial services because Transparency is a means to an end, where the end game is greater accountability, good decision-making and trustworthiness … which leads to better commercial outcomes for members, sponsors, markets through investment, and in the long-run - via improved reputation, public engagement and a reduced savings deficit - for the asset managers themselves and the financial services industry as whole."

 

JB Beckett

Author #NewFundOrder | New Fund Order, Assoc. of Professional Fund Investors

"I believe there ought to be higher levels of transparency in financial services because optimum economic value has become remote and distorted and by virtue active fund management and professional fund buyers fragile to digitalisation. Unless we put the City in order, technology will obsolete us, like Godzilla looming over us.”

 

Dan Norman

CEO | TCF Investment

“I believe there ought to be higher levels of transparency in financial services because the money belongs to the consumer and they need to be given the best chance of making their money work harder so they don’t have to.”

 

Pauline Skypala

Journalist | Freelance

“I believe there ought to be higher levels of transparency in financial services because it is impossible to make competent investment decisions and fund manager choices without being in full possession of all the relevant information. Costs are foremost in this as future investment performance is unknown.”

 

Julia Dreblow

Founding Director | SRI Services

“I believe there ought to be higher levels of transparency in financial services because it is the best way to make sure that people get what they want through enhancing trust; an aspect that is desperately low in our industry.”

 

Judith Donnelly                  

Partner | Squire Patton Boggs

“I believe there ought to be higher levels of transparency in financial services because pension funds and other institutional investors can only comply with their legal obligations to make informed decisions if they are able to access all relevant information."

 

David Clark                

Director and Chairman - Executive Committee | The Institute for Global Financial Integrity

“I believe there ought to be higher levels of transparency in financial services because without transparency investors lack the confidence to invest and markets fail to fulfil their true function of allocating capital efficiently."

 

Angie Kirkwood                   

Senior Manager - Industry Development | Scottish Widows

“I believe there ought to be higher levels of transparency in financial services because that is the only way we are going to gain the trust of our customers and allow us to simplify the way we talk to and engage those customers in making the decisions which will give them the best outcomes in their financial planning."

Robin Powell                 

Editor | The Evidence-Based Investor

“I believe there ought to be higher levels of transparency in financial services because without it investors are unable to work out how much they’re paying and how much (or more to the point how little) value fund managers are adding to the investment process”.

 

Terence Prideaux              

Managing Director | Morley Hall

“I believe there ought to be higher levels of transparency in financial services because the aspirations of savers and their advisors will not be met if managers take more than headline fees and trust in the financial system will not be won."

 

Richard Metcalfe 

Principal | Richard Metcalfe Consulting

“I believe there ought to be higher levels of transparency in financial services, and particularly in pensions, because we cannot afford for people not to save for retirement”.

 

David Norman 

CEO | TCF Investment

“I believe there ought to be higher levels of transparency in financial services because the money belongs to the customer and they need to be given the best chance of making their money work harder so they don’t have to.”

 

Julia Dreblow

Founding Dirctor | sri Services

“I believe there ought to be higher levels of transparency in financial services because it is the best way to make sure people get what they want. It also enhances trust which is desperately low in our industry to the detriment of end users i.e. individual investors.”

 

Steve Conley

Managing Director | Workplace Pensions Direct

“I believe there ought to be higher levels of transparency in financial services because if we can trust the integrity of the industry, the financial health of market participants can actually be improved whilst at the same time the lives of the end consumer of our products and services are significantly enhanced.”

 

Kay Ingram

Director | LEBC

“I believe there ought to be higher levels of transparency in financial services because consumers deserve to know what they are getting for their money.”

 

Bernard Casey

Principal Research Fellow | London School of Economics

“I believe there ought to be higher levels of transparency in financial services because investing is really only for sophisticated people and most people aren’t.”

 

Nigel Sycamore

Director | Clear Workplace

“I believe there ought to be higher levels of transparency in financial services because our clients deserve it. It’s as simple as that.”

 

Richard Hulbert

Insight Analyst | Defaqto

“I believe there ought to be higher levels of transparency in financial services because it empowers better financial decisions.”

 

Patrick Norwood  

Insight Analyst | Defaqto

“I believe there ought to be higher levels of transparency in financial services because it empowers better financial decisions.”

 

Noel Whiteside 

Professor Emeritus (retired) | University of Warwick

“I believe there ought to be higher levels of transparency in financial services because otherwise the personal responsibility for pension saving is impossible.”

 

Simeon Willis  

Director | KPMG

“I believe there ought to be higher levels of transparency in financial services because it improves investor outcomes.”

 

David Norman  

CEO | TCF Investment

“I believe there ought to be higher levels of transparency in financial services because it’s our money, you need to tell us what you are doing with it, clearly, honestly and openly.”

 

Sarah Young  

MD | GSAV Limited

“I believe there ought to be higher levels of transparency in financial services because the retail consumer deserves better protection and the industry should know better!”

 

Campbell Edgar 

Head of Financial Planning | CISI

“I believe there ought to be higher levels of transparency in financial services because they improve trust.”

 

Larry McLaughlin 

CEO | GSAV Ltd

“I believe there ought to be higher levels of transparency in financial services because retail consumers are entitled to know what they are paying for, and to have greater transparency to protect their long-term interests and financial future against diminishing returns. Transparency in all aspects of the financial industry is integral to achieving consumer confidence and trust”.

 

Darren Jefferson

Director | Alius

“I believe there ought to be higher levels of transparency in financial services because life is complicated enough and members deserve better”.

Richard Ellis

Institutional Relationship Manager | Sarasin & Partners

“I believe there ought to be higher levels of transparency in financial services because we believe there ought to be higher levels of transparency in financial services because savers / pensioners need to be properly informed about the products they invest in; they achieve the outcomes they expect; and to help build trust in the investment industry that is lacking at present.”

Elizabeth Campbell-Warner

Co-Founder Director | Gabriel Research & Management

“I believe there ought to be higher levels of transparency in financial services because transparency is a prerequisite to building trust and trust is essential to the development of a healthy, sustainable financial services industry and the consumers it serves”.

John Greenwood

Editor | Corporate Advisor

 “I believe there ought to be higher levels of transparency in financial services because opacity is to journalists what a red rag is to a bull. As long as things are hidden, trust in the industry will remain low.”

Martin Palmer

Head of Corporate Funds Proposition | Zurich

“I believe there ought to be higher levels of transparency in financial services because it will help to provide a level playing field as well as helping to restore trust and confidence amongst consumers that they are receiving value for money. This is particularly important at a time when increasing consumer engagement and understanding is so critical.”

Bryan Beeston

Director | ITM Limited

“I believe there ought to be higher levels of transparency in financial services because transparency builds trust, and all consumers and market participants will benefit from improved clarity and thereby increased levels of understanding enjoyed by the end customer”.

 

Olivia Seddon-Daines

Senior Research Analyst | ET Index

“I believe there ought to be higher levels of transparency in financial services because I am concerned that the everyday pension saver is embroiled in a system which charges fees at every turn, which invests in volatile markets that do not price in carbon risk, and, most importantly, that has proven itself unable/unwilling to accept ownership of endemic risks to the system, and the knock-on effects to the real economy”.

 

Jon Parker                 

CEO | Jonathan Parker Consulting

“I believe there ought to be higher levels of transparency in financial services because without it, customers will simply continue to mistrust the industry and lose out financially.  However, we would be wise to remember that more information and data can itself be a hindrance to improving outcomes”.

 

Nicholas Morris

Academic Visitor | St Anthony’s College, Oxford

“I believe there ought to be higher levels of transparency in financial services because financial services are key to our economy and society, and transparency is necessary to encourage trustworthy behaviour by financial services professionals. It is important that we define their obligations and responsibilities clearly, and then hold the industry and those who work within it to account.”

 

Shyam Moorjani                  

Partner | RSM

“I believe there ought to be higher levels of transparency in financial services because pension scheme members are entitled to know the full cost, including all transactions, for the administration and investment of their money. Transparency will also allow benchmarking and informed comparisons to allow investors to make informed and better investing decisions and to enable them to improve outcomes to reach their financial goals.”

 

Sophia Morrell 

Independent Media Consultant

“I believe there ought to be higher levels of transparency in financial services because I’m passionately committed to a fair and functioning City which benefits everyone. We have a world-class financial services industry in London and by working together, we can ensure it serves equal purpose and value to its 

participants and users.”

 

Matthijs Verweij                

BD Mgr, Pensions | KAS BANK N.V.

“I believe there ought to be higher levels of transparency in financial services because more transparency leads to better governance and in control management of pension schemes in all aspects.”

Ralph Frank             

CEO - DC (UK) | Cardano

“I believe there ought to be higher levels of transparency in financial services because users of our services should be able to understand what is being done for them and the corresponding charges being levied”.

Sunil Chadda                  

Managing Director | Cairn Consulting Ltd

“I believe there ought to be higher levels of transparency in financial services because every customer has the right to know exactly how much goods and services cost at the point of purchase”.

 

William Goodhart

Chief Executive | CFA Society of the UK

“I believe there ought to be higher levels of transparency in financial services because it contributes to the establishment of trust which can improve consumer outcomes. To date, the focus has been on costs and performance, but the investment profession and its stakeholders would also benefit from an improved understanding of the purpose of investment and from the processes employed on their behalf.”

 

Stewart Bevan

UK Product Manager | KAS BANK N.V.

“I believe there ought to be higher levels of transparency in financial services because stakeholders deserve to have access to the right information, to inform the best levels of decision-making and improve outcomes”.

 

Iuliia Shpak                  

PhD Candidate - Financial Economics/ Asset Pricing | University of East London

“I believe there ought to be higher levels of transparency in financial services because Transparency is critical for investor confidence and trust in financial markets.”

Colin Meech                  

National Officer | UNISON - Capital Stewardship Programme

“I believe there ought to be higher levels of transparency in financial services because Pension scheme members should know how much it costs to be a member of their scheme. The full cost, including all transactions, for the administration and investment of their money”.

 

Anita Skipper

Senior Analyst - Corporate Governance | Aviva Investors

“I believe there ought to be higher levels of transparency in financial services because it is only through transparency that we can gain the trust required to succeed.”

 

Rachel Haworth                  

Policy Officer | ShareAction

“I believe there ought to be higher levels of transparency in financial services because ensuring institutional investors are directly accountable to the people whose money they look after is the only way to transform the system into one that serves savers, society and the environment”.

 

Henrik Wolff-Petersen

Director and Co-Founder | Panda Connect

“I believe there ought to be higher levels of transparency in financial services because for being able to take rational decisions we need to have control of our data; independently, timely and complete.”

 

Stephanie Baxter                    

News Editor | Professional Pensions

“I believe there ought to be higher levels of transparency in financial services because we need to tackle unnecessarily high charges and ensure investors get value for money. This is integral to giving people the best possible retirement outcomes.”

Nils Johnson                

Founder and Director | Spence Johnson Ltd

“I believe there ought to be higher levels of transparency in financial services because it is good for business. Confidence, efficiency, growth and profitability are all enhanced – over the long term – by greater transparency”.

Andy Agathangelou

Founding Chair | Transparency Task Force

“I believe there ought to be higher levels of transparency in financial services because it holds the key to regaining the trust of the consumer, delivering value-for-money and operating a competitive market”.

 

Jonny Paul             

Freelance Journalist

“I believe there ought to be higher levels of transparency in financial services because financial advice is still generally seen as the preserve of the wealthy and post-crisis there is still much distrust. I believe that a campaign from within that homes in on greater transparency, focusing more on consumer outcomes, that does not stem from the regulators is a powerful way to show intent”.

 

Henrik Pedersen

Managing Partner, Co-Founder | CLERUS LLP

“I believe there ought to be higher levels of transparency in financial services because it will be good for everyone. Consumers will be able to compare and demand better value for money and the financial services industry itself will benefit from becoming more competitive, lean and effective”.

 

John Belgrove                

Senior Partner | Aon Hewitt

“I believe there ought to be higher levels of transparency in financial services because consumers and clients need to trust the industry through having access to clear, open, honest, jargon-free information in order to make informed choices to meet their financial objectives.”

 

Alexander Adamou

Fellow | London Mathematical Laboratory

“I believe there ought to be higher levels of transparency in financial services because financial markets are social constructs and financial services are a public good.”

 

Anthony Filbin

Chairman | Capital Cranfield Trustees

“I believe there ought to be higher levels of transparency in financial services because it will have such a beneficial impact upon incomes in retirement”.

 

Adrian Holliday                  

Reporter | Freelance

“I believe there ought to be higher levels of transparency in financial services because millions of consumers are reliant on it for their long term savings future.”

David Weeks                  

Co-Chair | AMNT

“I believe there ought to be higher levels of transparency in financial services because in times ahead, we must encourage people to save more in their working lives. We want them to be able to fund themselves for increasing numbers of retirement years. To do this, we must deliver, and be seen to deliver, prudent and open costs and charges.”

Juan Zuluaga 

Writer, InversionesSinllusiones.com

“I believe there ought to be higher levels of transparency in financial services because it will help us to see what can be done better”.

 

Erik Conley 

Founder | Zen Investor

I believe there ought to be higher levels of transparency in financial services because, as Vanguard founder John Bogle says: ‘the tyranny of compounding costs takes about two-thirds of the gains clients make. The client puts up 100% of the capital, and takes 100% of the risk, but only gets one-third of the return.’ Something is very wrong with our financial system. Investors deserve to know exactly what they’re buying and how much it will cost, today and over time.”

 

Henry Taper 

Director, First Actuarial & Founder | Pension PlayPen

“I believe there ought to be higher levels of transparency in financial services because people want to know what they’re buying. We cannot be trusted. Our system depends on trust and fiduciaries managing our money. Until people consider themselves investing in a trustworthy way - we will remain untrusted. Transparency is the only way to break this vicious circle.”

 

Clara Durodié 

Founding Partner | Cognitive Finance Group

“I believe there ought to be higher levels of transparency in financial services because trust is the birthplace of asset management.” 

 

Richard Ellis 

Institutional Relationship Manager | Sarasin & Partners

“I believe there ought to be higher levels of transparency in financial services because savers / pensioners need to be properly informed about the products they invest in; they achieve the outcomes they expect; and to help build trust in the investment industry that is lacking at present.”

 

Margaret Snowdon OBE

Chairman | Pensions Administration Standards Association

“I believe there ought to be higher levels of transparency in financial services because it is the best way we can restore public trust in pensions.”

 

Lesley James 

Director | Simplified Money

"I believe there ought to be higher levels of transparency in financial services because none of this is our money! How can we expect clients to have trust in our services if they cannot even be sure of the price?”

 

Robin O’Grady            

Head of Business Development | Hawksmoor Investment Management

“I believe there ought to be higher levels of transparency in financial services because consumers & their advisers need to regain trust in a hugely competitive market and be certain of all the facts before being able to make informed choices.”

Mike Stafford CFP

Director | Stafford Wealth Management

“I believe there ought to be higher levels of transparency in financial services because the more informed the client is the better decisions he/she can make. So for our part we are happy to display our charges on our website for both lifestyle financial planning and for regulated investment services.”

 

Chris Connelly

Principal Consultant | Aquila Heywood

“I believe there ought to be higher levels of transparency in financial services because we look after other people’s money and therefore their futures. It’s as simple as that."

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