Sole Mates - Corporate Sole Trustee Market Insights
LCP has published their 5th annual survey charting how the Professional Trustee and Professional Corporate Sole Trustee market is evolving. Law Debenture Head of Corporate Sole Trustee Scott Pinder shares his thoughts.
Highlights from LCP:
- 53% of UK DB schemes now have a Professional Trustee, overseeing £1.1tn in assets.
- PCST adoption has doubled since 2021 – now a quarter of schemes.
- Growth is slowing, pointing to a maturing market and fiercer competition.
- Regulatory scrutiny is rising, with governance, independence and transparency in the spotlight.
The market is shifting from rapid expansion to consolidation and stronger governance models, as firms adapt to new pressures and opportunities.
Read the full report on the LCP website here: https://bit.ly/3TGFA0y
Law Debenture was pleased to once again contribute to LCP's Sole Mates annual survey focussing on growth and changing trends in the Professional Trustee and Professional Corporate Sole Trustee market. Scott Pinder, Head of Corporate Sole Trustee at Law Debenture shares “LCP’s fifth annual Sole Mates report highlights not just growth, but a maturing trustee industry where talent and strong governance are driving real impact.
A key finding of the report is the growing shift towards the Professional Corporate Sole Trustee (PCST) model. Our own recent research shows that whilst 95% of finance leaders in companies with DB pension schemes are aware of the CST role, fewer than half (43%) fully understand its function, and only 12% currently use a PCST.
The LCP report highlights cost savings and faster decision-making as the main drivers of adoption, echoing our research that shows only 2% of companies see no advantage in the model. Both research findings are clear; the number of firms using PCSTs are low today but accelerating, especially amongst larger companies who are beginning to see the wider benefits.
Looking ahead, it is clear the Professional Trustee market isn’t just getting bigger, it’s maturing and growing up. Going forward, we expect to see an increase in demand for transparency, resilience, and clear value. Like any industry that wants to stay ahead, we’re focused on keeping up with technology and regulatory changes so we can keep delivering the best results for our clients.”
Do reach out to Scott James Pinder to find out more about our approach to PCST.
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