Close Brothers Asset Management has improved its MiFID II processes by implementing Red Deer’s Research Management solution to better manage its research budgets and enforce stricter controls around inducement across its investment business.
“Red Deer demonstrated a flexible, user-friendly solution that provides us with a single-point of entry for research consumption, inducement and attribution management. The solution will support our inhouse research capability, while also tracking consumption of research on both a quantitative and qualitative basis,” said Robert Alster, Head of Research at Close Brothers Asset Management. “By streamlining the research process and making it more efficient, we are able to deliver even greater transparency and value to our clients.”
Red Deer’s research valuation management solution captures and attributes firm research consumption across all research channels including email, chat and voice, giving buy-side firms the most accurate view of their research value. This approach has the added advantage of preventing inducement across the firm. Red Deer’s Outlook plugin and mobile application mean that firms can be MiFID II compliant quickly, with minimal disruption to their investment process. Advanced budget management allows firms to allocate budgets at the fund, strategy or individual level and track contributions from hard and soft budgets, with alerting to ensure budgetary thresholds are maintained. Oversight reporting is exception-based, offering compliance teams greater transparency and operational efficiencies.
Henry Price, CEO of Red Deer, commented, “We work closely with our clients to fully understand their unique requirements so that we can implement a tailored solution that not only accommodates their current process and makes it compliant, but also enhances it by providing accurate, up-to-date customised insight that helps improve their process and ensure their investors get the best possible value from research.”