Baker Tilly Isle of Man
(now RSM)

An independent review by our team of experts.

Review summary

Baker Tilly Isle of Man (now RSM)

Baker Tilly International (now rebranded globally as RSM) is the world’s 8th largest accountancy and business advisory network by combined fee income of its independent members.

It is represented by 165 firms in 141 countries, with combined fee income of US$3.8bn - and more than 28,000 people worldwide. 

Baker Tilly Isle of Man was an independent member of Baker Tilly International, and provided accounting, audit, fiduciary services, luxury asset management, retirement solutions and a wide range of international business support and consultancy services to its clients.

Baker Tilly has rebranded under new name: RSM.

Confusingly however, Baker Tilly Pension Trustees Limited changed its name from RSM Pension Trustees Limited in 2015, and was dissolved via voluntary strike-off in 2017.

Overview
Retirement solutions

In a challenging environment ensuring compliance with regulatory requirements, undertaking risk management reviews and maximising scheme funding can all help with the stewardship of a pension scheme.

RSM's experienced global team has the specialist knowledge pension scheme trustees need to stay ahead.

They have a partnership approach to working with pension scheme trustees, scheme management and corporate scheme sponsors helps RSM's expert pensions team to always stay aware of the issues and concerns that matter to clients.

RSM offers a range of services to reduce risk and add value, including:

  • analysing pension scheme deficits and the steps necessary in monitoring the sponsor covenant to ensure that schemes are adequately funded to meet members’ needs;
  • maximising return on investment while maintaining and monitoring the appropriate balance between risk and return;
  • meeting the demands for scheme member data to be accurate and the controls necessary to keep it up to date;
  • meeting the ongoing challenges of automatic enrolment and associated risk management requirements in a defined contribution environment;
  • communication and constructive engagement with scheme members;
  • communication with scheme sponsors to ensure that they remain aware of and understand their responsibilities towards pension scheme members;
  • complying with the ever increasing regulatory pressure and tighter standards of governance expected of scheme trustees; audit and assurance services which add value in respect of internal controls and regulatory compliance;
  • internal audit services to assist trustees with focused risk management;
  • flexible and focused covenant reviews to assess the financial strength of the scheme sponsor;
  • facilitated risk management reviews for defined benefit trustee boards to identify and address key risk areas;
  • focused defined contribution risk reviews to enable trustees to demonstrate their compliance with the regulator’s defined contribution principals;
  • facilitated governance reviews to ensure trustees are fully aware of their duties;
  • trustee training and the establishment of internal trustee training mechanisms;
  • AAF01/06 reporting assistance for pension scheme administrators, investment managers and custodians;
  • taxation recovery, especially from overseas jurisdictions;
  • VAT recovery to maximise scheme funding;
  • accounting services for schemes of all sizes and complexity;
  • and forensic accounting support to assist in identifying fraud and enabling recovery.

The pros

  • Global presence
  • International expertise
  • Extensive pensions experience

The cons

  • Confusing group structure
  • Part of a group that frequently changes name/shape
  • Painfully slow website
FAQs
What other services does RSM (formerly Baker Tilly) offer?

RSM provides a range of accountancy and business advisory services to assist with a full spectrum of advice from compliance to facilitating growth.

Audit and assurance services

Consulting services

Legal services

Outsourcing

Restructuring

Risk advisory

Tax services and 

Transactions

 

Is RSM one global corporation?

No.

The UK group of companies and LLPs trading as RSM is a member of the RSM network.

RSM is the trading name used by the members of the RSM network.

Each member of the RSM network is an independent accounting and consulting firm which practises in its own right.

The RSM network is not itself a separate legal entity in any jurisdiction.

Customer reviews
Have you used Baker Tilly or RSM's services?

If you have previous experience of the services offered by Baker Tilly Isle of Man, or experience of the rebranded RSM group of companies, and would like to share them with our network of readers, please contact us with your review.

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Expert verdict
Expert Assessment of Baker Tilly Isle of Man

Baker Tilly is primarily an accountancy network, and a very good one at that.

Via its Isle of Man office it delivers retirement solutions and services, but it is a small part of the overall business.

We believe that there are better providers and solutions in the market.

Read the UK regulator’s advice on pension transfers here. 

NEVER deal with a firm that isn’t authorised as a UK pension transfer specialist. 

Our advice would be to seek professional fee-based independent financial advice if you have an existing QROP with Baker Tilly. 

We also recommend you have a free, no obligation X-Ray Review™ conducted to give you the information you need to make a decision on the best way forward.

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