Global Biotherapeutics Company Advisor Evaluation and Search
Client & Objective
A global biopharmaceutical company with more than $1 billion across its Defined Contribution, Defined Benefit, and Non-qualified plans engaged North Pier to lead an evaluation and search process for an investment advisor. The Investment Committee wanted to assess both Traditional §3(21) consulting and §3(38) discretionary models and determine which structure and provider best suited them.
Process
North Pier helped the Committee clarify its priorities to build a practical evaluation approach, grounded in fiduciary best practices and informed by the realities of overseeing multiple retirement plans. The work focused on governance, investment oversight, reporting, fee transparency, vendor coordination, and the level of support needed by the Committee and staff overtime.
North Pier then led a disciplined search (RFP) and provided decision-ready analysis, market intelligence, and active guidance throughout the evaluation. Through this process the committee was able to compare providers on a consistent basis, evaluate key tradeoffs, and support a well-documented decision.
Results
• The Investment Committee reached a long-term decision on provider structure and service model fit based on a clear and well-documented evaluation process.
• The retirement program adopted a discretionary OCIO structure designed to improve fiduciary alignment, clarify responsibilities, and support more efficient investment oversight.
• A single provider was selected across the defined contribution, defined benefit, and non-qualified plans, creating greater consistency, coordination, and administrative efficiency throughout the entire retirement program.