Thread by @yomeeks

This is your daily pension announcement: The Pension War Room™️steps into the toxic sludge that is the Financial Post to fish out some @MarkDWiseman hot takes! Read it and I will unpack the shit takes for you. #AbLeg #handsoffmypension

financialpost.com/news/fp-street…

First, the facts are largely correct in this article. They fail to mention that Travis has a legislative power to issue "directives" to AIMCO. An oversite I am sure. #AbLeg #handsoffmypension

Second, I am glad that he is setting up a committee to look at reputational risk for AIMCO. Their reputation has really taken a beating. I don't think he understands how much his pension clients (80% of assets) hate him and AIMCO. #AbLeg #handsoffmypension

I am telling you, there is a pile of hate for AIMCO out there. I have incidents. There is little to no trust.

“It only works well when there’s a high degree of trust and collaboration between the client and the asset manager,” Wiseman said"

Yup. #AbLeg #handsoffmypension

LAPP again pointing out that AIMCO has never met their SIPP defined value add target of 0.85% not even one quarter for 12.5 years. Ow. That is a sic burn. From their newsletter no less. #AbLeg #handsoffmypension

Third to quote the FP:

"Unlike other types of money management, however, most AIMCo clients can’t just take their money elsewhere if they are unhappy,"

The FP seems to realize that this is fundamentally unfair. It is unfair. That is why teachers are angry. #AbLeg #aimcofail

"Keith Ambachtsheer, a veteran pension consultant, said that with AIMCo at such a critical juncture, someone with Wiseman’s experience was a necessity to manage a range of governance, investing and political concerns." #AbLeg

AIMCO has been placed in the shittiest of positions by the politics of good ol 'berta.

People here still hate Trudeau because of the NEP.

Teachers still remember GOA malfeasance in the pre-1992 pension. #AbLeg #handsoffmypension