Author: Vishal Makkar
What does winning Pensions Consultancy of the Year mean for Gallagher?
It is a proud moment and the result of several years of deliberate work. Over recent years, we have brought together some of the strongest firms in the industry, including Buck, Redington and now First Actuarial. Each organisation brought something exceptional to the table, and by combining their strengths with our own, we have created a consultancy with a depth and breadth of capability that is genuinely distinctive.
This integrated proposition has also supported substantial organic growth. Clients trust us with their biggest decisions because they see the benefit of a consultancy built on complementary expertise, shared values and a clear commitment to high-quality advice.
This award recognises that collective effort. It reflects what we achieve with our clients, how we contribute to the wider industry and the culture and people who make that possible. To be recognised across such a broad spectrum of our work is an accomplishment that means a great deal to us.
What do you think helped Gallagher stand out to the judges?
The judges are looking for more than technical capability. They want to see firms that genuinely improve outcomes for schemes. For us, that comes from clarity in a landscape that is increasingly complex. The feedback we receive most often, and what we believe resonated with the panel, is our ability to combine deep technical expertise with very practical, hands-on support. We do not simply deliver advice. We stay with trustees through the challenging transitions, whether that is navigating the new Funding Code, preparing for endgame options or supporting them through their Guaranteed Minimum Pension (GMP) Equalisation exercises.
That balance of rigour and humanity is a product of our people. Clients value that our teams are technically strong, collaborative and proactive in helping them make decisions with confidence.
Over the past few years, our combined capability has translated into meaningful results for the schemes we support. Today, we advise on more than £600 billion of assets, reflecting the trust placed in our technical depth and strategic insight. Since 2020, we have helped insure more than 45,000 lives, covering over £5.4 billion of member benefits, and we support millions of members across the schemes we work with.
We are equally proud of the quality of experience we provide. Our Net Promoter Score (NPS) of 76, compared with an industry average of 36, is a strong indicator of client advocacy and satisfaction. NPS measures how likely clients are to recommend their adviser, and a score at this level reflects the confidence they have in our people and our approach. Alongside this, continued investment in our technology and analytics is helping trustees and institutional investors make clearer, faster and more informed decisions as they move towards their long-term goals.
What role does culture play in your success?
Culture is at the heart of how we work. Our people feel supported, empowered and able to grow, which in turn shapes the service our clients experience. When teams enjoy what they do and feel valued, it shows through in the quality of relationships they build.
Our position within Gallagher's consulting business also gives us a unique lens on people and culture. We understand how organisations work, how decisions are made and how to communicate effectively. That insight strengthens the advice we provide to schemes navigating complex governance and long-term choices.
How would you describe Gallagher's approach to pensions consulting today?
We provide full end-to-end support for schemes, but what truly defines our approach is the depth of insight that comes from having experts embedded across every part of the industry. Our actuaries, investment specialists, governance advisers, communications consultants, administrators and risk transfer experts work side by side as a single team. This constant exchange of perspectives means our solutions are shaped through multiple lenses rather than a single discipline, giving trustees confidence that their decisions are well informed, balanced and considered.
Because many of our clients work with us across multiple services, our teams collaborate every day. They challenge each other constructively, share insights and bring together their experience to deliver the strongest outcomes for schemes of all sizes and strategies.
The pensions industry has gone through major shifts in the last few years. How has Gallagher adapted?
The pace of change has increased significantly, and with it the expectations placed on trustees. Schemes want clear guidance, well-structured analysis and practical conversations that help them understand their options without feeling overwhelmed. Our response has been to evolve with intent and to stay ahead of what trustees need from their advisers.
A major part of that has been our investment in education. Our webinars, articles, reports, training sessions and events reach thousands of stakeholders each year. These include our Navigating Pensions series and, most recently, our risk transfer webinar series, both designed to help trustees stay informed and confident as the landscape continues to shift. Supporting learning across the industry is a fundamental part of our role.
At the same time, we have strengthened our capabilities across technology, tools and talent. The last year has seen continued expansion in our business, building on the deliberate investments we have made over the past few years. These investments are now delivering tangible benefits in scale, depth of expertise and stability. All of this shows up in the quality of work we deliver for clients and in the confidence, they place in us.
What is next for Gallagher's pensions consulting team?
The next chapter will be about strengthening the combined capability we have built. At the end of 2025, we were delighted to welcome First Actuarial to Gallagher. We now have 550 new colleagues whose skills and experience add even more depth to our proposition. We are already learning from one another, collaborating across teams and exploring how we can deliver even stronger outcomes for schemes.
We will continue to invest in our people, our tools and the insight we provide to the industry. Above all, our focus remains on supporting schemes through their full lifecycle, from setting long-term strategy to reaching their endgame with confidence. Whatever a scheme's size or objectives, we want trustees to feel informed, supported and assured about the path ahead.
We are proud of how far we have come and excited about what this next chapter will mean for the schemes we support.
