The financial technology company dedicated to enhancing the performance of active investment managers will be delivering its Research Management solution to UK-based wealth management firm Charles Stanley in order to seamlessly integrate MiFID II compliance across their investment process, whilst being better placed to fully understand the value of their research.
Charles Stanley, which has £24.4bn in assets under management, was in need of a research management solution that captures and attributes research consumption across all channels including email, chat and voice.
Red Deer’s Outlook plugin and mobile application provides quick MiFID II compliance with minimal disruption to the wealth manager’s investment process. Charles Stanley is now also able to use advanced budget management 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.
Freddy Horn, Service & Product Lead at Charles Stanley, commented: “Charles Stanley needed a solution that fits seamlessly into our investment process, which is used by our research consumers, multiple brokers and independent research providers. With Red Deer, we can now more efficiently and effectively track research consumption, manage the risk of inducements, monitor budgets, assess value and achieve compliance in Europe under MiFID II regulations. With the Research
Management solution in place, our wealth managers will extract optimum value from research, which in turn will benefit our growing client base.”
Alistair Downes, VP of Product, Red Deer, said: “We worked closely with Charles Stanley to understand their exact requirements so that we could deliver a solution that both integrates with and improves, their existing process. It has been a little over 18 months since MiFID II’s implementation, and we’re continuing to help firms address the regulatory, administrative and operational challenges associated with capturing a holistic view of consumption and valuation across their research channels. By using the right Research Management solution, firms can gain a more comprehensive understanding of the cost and value of their research, thereby delivering greater transparency and value to their clients.”
Red Deer won the HFM European Services Awards 2018 for best MiFID II solution in the category of research management. The firm also won Best Research Subscription Management Solution for MiFID II at RegTech Awards 2018.
Charles Stanley also uses other wealth management fintech, including JHC Systems, which was recently launched its Digital Wealth Platform: a solution that aims to enhance the experience of end-users by digitizing key processes, allowing wealth managers to focus more on client relationships and retention.