Fiduciary Consulting Group

Fiduciary Consulting Group (FCG) provides fiduciary and investment consulting services through Morgan Stanley Institutional Investment Advisors LLC to retirement plans, plan sponsors, non‑qualified deferred compensation arrangements, corporate accounts, and institutional clients such as foundations and endowments. Its practice includes continuous investment monitoring, manager selection and due diligence, investment policy development, expense analysis, company‑stock fiduciary services, pension risk‑transfer work, and fiduciary education and training.

FCG’s investment process is driven by an internal investment committee that performs ongoing qualitative and quantitative due diligence on managers and pooled vehicles (mutual funds, CITs, ETFs, separately managed accounts, hedge funds and private equity) and delivers written quarterly reporting to clients. The firm typically operates in a plan‑level, long‑term fiduciary advisory role—providing non‑discretionary ERISA 3(21) services for many clients and acting as a 3(38) investment manager under specific contracts—rather than offering individual portfolio management.

Distinctive features include FCG’s integration within the Morgan Stanley platform: MSIIA is an indirect subsidiary of Morgan Stanley, a financial holding company whose subsidiaries engage in banking, merchant‑banking and trading activities (including foreign exchange, commodities and structured products), and which provides access to affiliated investment management and scale benefits such as aggregated pricing for collective investment trusts. The firm does not custody client assets, does not vote proxies on behalf of plans, and focuses on institutional plan fiduciary work rather than serving individual or high‑net‑worth retail clients.