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REVIEW SUMMARY

RSM

RSM (formerly known as Baker Tilly Isle of Man) is a network of audit, tax and consulting experts. 

RSM has firms in over 120 countries and are in each of the top 40 major business centres throughout the world. Their head office is in 50 Cannon Street, London.

RSM provides advice on a wide range of issues from audit and assurance, consulting, tax, risk advisory, IFRS, restructuring, transaction and business to financial advisory solutions.

Along with core services, their member firms also offer a wide range of specialist services, such as wealth management, IT consulting, legal advisory, forensic accounting and human resource consulting.

With 820 offices across America, Europe, MENA, Africa and Asia Pacific, RSM has a combined staff of over 48,000.

Our Verdict
A Closer Look
FAQs
Customer Reviews

RSM's global team claim to have the knowledge and experience required to help pension scheme trustees stay ahead.

They have a partnership approach to working with pension scheme trustees. Scheme management and corporate scheme sponsors helps RSM's pensions team stay aware of the matters that concerns their clients.

RSM's services for pension schemes include:


1. Assurance and internal
controls:

  • this includes audit and assurance services which add value in respect of internal controls and regulatory compliance;
  • facilitated governance reviews;
  • AAF01/06 reporting assistance; and
  • RSM also provides trustee training and the establishment of internal trustee training mechanisms.

2. Risk management:

  • as part of their risk management service, RSM provides facilitated risk management reviews for defined benefit trustee boards in order to help them identify and address key risks, including cyber security;
  • focused defined contribution risk reviews to enable trustees to demonstrate their compliance with the regulator’s defined contribution principals;
  • they also help meet the demands for scheme member data to be accurate and the controls necessary to keep it up to date.

3. Covenant assessment:

  • RSM helps analyse pension scheme deficits and the steps necessary in monitoring the sponsor covenant to ensure that schemes are adequately funded to meet members’ needs; 
  • they also provide flexible and focused covenant reviews to assess the financial strength of the scheme sponsor.

RSM's pensions group has a dedicated covenant assessment services team who act for over 1,000 pension schemes. 

We would recommend reading the expert verdict section of this review for more information.

NOTE:

We would highly recommend reading the 'expert verdict' section of this independent review.

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The Pros

> A professional partner with offices around the world
> Fast answers and good reports - circulars are helpful
> 8th largest global network of audit, tax and consulting firms

The Cons

> Confusing group structure
> Part of a group that frequently changes name/shape
> Better for accountancy
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.

What retirement solutions does Baker Tilly Isle of Man offer?

Baker Tilly Isle of Man (now known as RSM) offer a wide range of retirement solutions, including:

  • Membership of low cost Self Invested Personal Pensions (SIPP’s)
  • Individually tailored SIPP’s
  • Small Self-Administered Schemes (SSAS) for a select group of employees
  • Company pension schemes in the Isle of Man
  • International pension plans for employers outside of the Isle of Man
  • Qualifying Non-UK Pension Schemes (QNUPS)
  • Provision of trustees to existing or new schemes
  • Transfers from the UK to jurisdictions where QROPS status has been established
  • Bookkeeping & financial reporting
  • Review & training services for trustees & in-house administrators

Have you used RSM's (formerly known as Baker Tilly Isle of Man) services?

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Please send your review and comments to marketing@aesinternational.com to help people make an informed decision.

Expert assessment of RSM (formerly known as Baker Tilly Isle of Man)

RSM (formerly known as Baker Tilly) is primarily a very good accountancy network.

Through its Isle of Man office it delivers retirement solutions and services, but it's 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 and independent advice if you have an existing QROPS with RSM. For pensions worth £250,000 or more, we recommend contacting us for a Second Opinion.

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