Lampard took the reins at Goodison Park on Monday, with the Toffees hierarchy picking the ex-Chelsea boss as their new boss over fellow shortlisted managerial candidates in the likes of Ferguson.
The Scotsman has been a mainstay at Goodison Park for more than half a decade, supporting the likes of former bosses Rafael Benitez and Carlo Ancelotti and will remain at the club in a coaching role.
Lampard has expressed his delight at having Ferguson’s support at Goodison Park and stressed it will only help him to have the Toffees legend working alongside him, bring his knowledge and experience at the club to the table
The 43-year-old added that he has enjoyed his first few days working with Ferguson, a person that is well respected by the fans and other players, which he insists is a big positive as he embarks on his new stint on Merseyside.
Asked about having Ferguson as part of his backroom staff, Lampard told a press conference: “I was delighted to work with Duncan.
“I saw him up close a couple of years ago when they beat us and we had a laugh about that in the last couple of days.
“But he is a club legend.
“He is person that the players respect, the club respect, the fans respect and I can only help from tapping into his experience and knowledge from being here as well.
“I am very open and very accommodating.
“There is no way I would ever want to be a person to do anything but look at what is best for this job and having Duncan around has been great, I have really enjoyed the few days.”
Lampard has also roped in his former Chelsea team-mate Ashley Cole to Goodison Park in a foist team coaching role.