Benchmark Financial Services is soliciting 100 major pension plan sponsors to establish a database of the fees they actually pay to money managers, said Edward A.H. Siedle, president. It would aid plan sponsors in negotiating fees with money managers, he said.
The database will focus on U.S. and international equity and fixed-income management: "That’s where we can easily make an apples-to-apples comparison,” he said. "I’ve seen huge price differentials that aren’t justifiable. I believe fees are too high.”
At least 10 sponsors, which Mr. Siedle declined to identify, already have agreed to provide data, he said.
Benchmark, which plans to complete the database in two months, will charge for subscriptions; the price has not been determined.
