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Maximising value from research whilst facilitating compliance with MiFID II

March 12, 2019 Case Study

Raymond James Investment Services is a leading UK wealth management firm with over £9.4billion* in client assets under management (AUM), supporting over 100 independent practices and is a subsidiary of Raymond James Financial, which has over $725billion* in AUM globally. (*Stats correct as at 31 December 2018.) 

Business need

  • Streamline approach of MiFID II across the firm (UK)
  • Enhance the internal research offering
  • Manage entitlements across multiple practices with up to 50 users
  • Track and monitor consumption
  • Costing and budget monitoring

The Solution

Raymond James selected Red Deer’s Research Management solution, which integrates MiFID II compliance across their investment process.
An easily configurable system that enables each practice to tailor their research to individual investment propositions. Forecasting and management of budgets in real-time by fund, strategy or individual level. An award-winning mobile app for users to read and rate research on the move. The ability to measure research consumption and value – quantitatively and qualitatively. Managed distribution of research through a robust permissioning model.

The Impact

Strong and sustained end-user adoption: Over 20,000 items of research were read by the Raymond James community in 2018. 'Non-intrusive end user approach provides seamless integration into existing investment workflow, whilst remaining compliant. Solution provides managers with greater transparency and operational efficiencies in managing research - saving hours and creating the capacity to focus on strategic initiatives. The ability to accurately attribute research consumption and value allows for transparency to management and clients.

Anthony Scott, Head of Business Development, Raymond James

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"Red Deer offers a user friendly, configurable system that effectively allows the Raymond James branches and directly authorised firms that work with us to tailor their research to their individual investment propositions, whilst also enabling us to measure research consumption, quantitatively as well as qualitatively." "The end solution allows us to maximise our wealth managers’ value from research, which benefits their investor clients, whilst also facilitating compliance with MiFID II.”

MARK BEANEY, BRANCH PRINCIPAL, RAYMOND JAMES, WEALD OF KENT

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“Red Deer has been one of the unexpected benefits of MiFID II. The platform allows me to filter and access the research that I need to support my investment strategy in a timely and efficient manner from a broad range of research houses. It has cut down the time for finding research considerably, allowing me more time to manage client portfolios.”

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Maximising value from research whilst facilitating compliance with MiFID II

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