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Red Deer & Close Bros. MiFID II

Raymond James Investment Services selects Red Deer for MiFID II Research Compliance

January 16, 2018 Press Release

Red Deer, a financial technology company dedicated to enhancing the performance of active investment managers, is pleased to announce that Raymond James Investment Services (“Raymond James”), one of the fastest growing wealth management businesses in the UK today, has selected its MiFID II solution in order to adhere to the regulations that came into effect earlier this year. The tool will enable Raymond James to manage its entitlements, inducement, consumption and voting requirements, while also streamlining its approach to MiFID II compliance across the firm.

“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,” said Anthony Scott, Head of Business Development at Raymond James. “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.”

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, CCO of Red Deer, commented, “Post January 3rd, our clients are moving from initial regulatory compliance, to looking for better ways to service their investors. The ability to accurately articulate and attribute research consumption and value allows for transparency to investors and shareholders alike. This added detail enables more meaningful discussions with providers and within firms, ensuring the development of increasingly insightful and relevant future research offerings, a change which is beneficial to all parties.”

About Red Deer

Red Deer is a financial technology company dedicated to enhancing the performance of active investment managers. Serving a client base of some of the world’s leading hedge funds, asset managers and wealth management firms, Red Deer is founded on three key pillars – ‘Miss Nothing that Matters’, ‘Turn Data into Decisions’ and ‘Stay Ahead of Regulation’. Red Deer enables active investment managers to intuitively explore and discover, share and collaborate and make data-driven decisions that drive performance, whilst seamlessly staying on the right side of regulation.

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About Raymond James Investment Services Limited (Raymond James)

Raymond James Investment Services Limited (Raymond James) was founded to service and support entrepreneurial investment managers and investment focused financial planners in the UK who run growth orientated practices with a strong management and compliance culture. These wealth managers service high net worth clients with complex financial needs.

Our services are delivered in an open architecture environment so that wealth managers select the products and solutions that meet their clients’ specific needs in the most cost-effective manner. Furthermore, Raymond James does not centrally manufacture and promote any proprietary investment products in the UK, ensuring there is no conflict to the wealth manager’s unbiased investment selection.

Raymond James offers three business models, including Independent Contracting, Professional Partner and the Investment Management Platform. In our first two business models, Raymond James provides the regulatory umbrella, which means it can help individuals set up a boutique wealth management/investment management practice efficiently, with the individuals authorised with the FCA through Raymond James. The Investment Management Platform model provides a progressive discretionary investment management platform for firms that are already authorised with the FCA. Wealth managers can move between business models as their needs evolve and in all cases, the wealth managers run commercially independent practices.

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Raymond James Investment Services is a member of the London Stock Exchange and is authorised and regulated by the Financial Conduct Authority. Its Registered Office is at Broadwalk House, 5 Appold Street, London EC2A 2AG. Registered in England and Wales No. 3779657.

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