Ms Noble has more than 30 years' experience as an international fixed income fund manager having worked at Gartmore, Bankers Trust and Standard Chartered.

Mr Craven and Mr Maybury previously worked for IFP gold corporate member Schroders.

The directors said the aim was to "put the power back in the hands of trustees and institutional investors by restoring impartial advice".

Their expertise includes asset management, actuarial and wider pension advice, as well as behavioural economics.

Clients can seek help with investment advisory and governance services to pension schemes, charities, and endowments.

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The directors already advise clients with over £80 billion under management.

Alexandra Noble, founder and managing director, said the firm was created in response to a "growing need for pure advisory services in the marketplace as trustees face conflicting advice around governance, investments and risk amid an ever more complex legislative environment".

Ms Noble said: "City Noble's founding principles are independence, integrity and insight. We want to ensure that trustees and other institutional investors make better decisions for the members. The insight we can provide from an impartial and genuinely independent viewpoint allows us to add value to the process."

She said: "There is a great need for independent advice around investment strategies in a sector where consultants are increasingly conflicted. Trustees and employers need truly independent insight that is not constrained by house views, themselves a product of the solutions consultants wish to sell.

"Our aim at City Noble is to offer a level of client care, objectivity and independent thinking increasingly lacking in the sector."