Broadstone

Broadstone named best third-party administrator

Hopefully, you will have read the exciting news that Broadstone has topped the 2022 Professional Pensions Administration Survey (for the full results the link is here). Professional Pensions surveyed the clients of third-party administrators (TPAs) with an assessment across the areas of customer service reliability, accuracy and value for money.

We were delighted to come fifth last year but set ourselves the challenge of improving our standing further and it is incredibly gratifying to have topped the poll this year. Awards like this mean a lot more when it is based on the views of the people that work with us.

As all who work in pensions administration know, we are often the unsung heroes ensuring that pension schemes operate smoothly. We are the direct link to members, explaining complicated financial options in simple terms and often providing friendly support in difficult times.

In recent times we have seen our role expand with greater emphasis on reporting to clients and explaining what we do and why. We have continued to invest in new technology such as the 4myplan platform which helps members access information on their pension benefits and options online.

Our team has demonstrated the ability to pivot from improving member experiences to supporting major projects like GMP equalisation and buy-out transactions. With Pensions Dashboards on the way, having a good quality administrator has never been so important.

Broadstone is a unique provider in that we are the product of many different firms coming together. We have used the experience across our wide breadth of offices and been able to take the best practice from each and replicate that across all our offices.

From listening to our clients, we know that they recognise the things we do. We try and make the confusing world of pensions easier to navigate for trustees, sponsors and members, and to do that we focus on building well-trained and settled teams of administration experts that understand the “why” behind the process. We find this consistency improves the quality of support we provide to members and builds trust with our clients.

This award is justification that the way we’re providing administration is hitting the mark. The job isn’t done and we know we will always have new areas to develop and improve. However, receiving this recognition from those that use our services means a lot to the administration teams we have up and down the country. Thank you to those that have taken the time to respond to the survey.