@article {Glass42, author = {Steven Glass and Norman Goldberg}, title = {Unbundling Transition Decision-Making from Execution}, volume = {2003}, number = {1}, pages = {42--54}, year = {2003}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Only a few transition managers (mainly consultants) offer unbundled transition advisory services. Most of the firms offering consulting services link their consulting arm with their asset management and/or broker/dealer divisions and bring institutional predispositions, strengths, and weaknesses that favor certain approaches over others. Perhaps most important, transition managers often do not act as a plan fiduciary, but instead act solely in a brokerage capacity. As a consequence, plan sponsors who feel the need for fiduciary advice and expertise should consider a new paradigm whereby the roles of transition fiduciary, and trade execution are bifurcated. Under such a model, plan sponsors need not rely on {\textquotedblleft}firewalls{\textquotedblright} between the advisory and execution teams, and enjoy unfettered access to the optimal trading strategy and venue (pursuant to fiduciary advice that is {\textquotedblleft}agnostic{\textquotedblright} with respect to transition methodology and executing broker/dealer).}, URL = {https://guides.pm-research.com/content/2003/1/42}, eprint = {https://guides.pm-research.com/content/2003/1/42.full.pdf}, journal = {Trading} }