Workplace pensions manager NEST is to receive investment advice from Cardano.
The auto-enrolment retirement scheme specialist will receive guidance on the impact of any changes in legalisation from its new adviser as well as help on developing its investment strategy.
The agreement will also see Cardano, which won a beauty parade to become an external adviser, help NEST pick fund managers.
NEST’s chief investment officer, Mark Fawcett, said the trust’s mission is to deliver a high-quality workplace pension, which involves working with external parties.
“Cardano showed the capabilities we seek across both general investment advice and manager selection,” he added. “We’re looking forward to working with them in the future.”
Cardano’s co-head of DC, Ralph Frank, said he is delighted at winning NEST’s confidence by being chosen as an adviser.
“We look forward to engaging with and supporting NEST in advancing its offering as well as identifying leading fund managers,” he added.
