Red Deer selected by Close Brothers Asset Management to support MiFID II processes
May 29, 2018 Press Release
Red Deer, a financial technology company dedicated to enhancing the performance of active investment managers, is pleased to announce that Close Brothers Asset Management, a leading wealth manager, 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 in-house 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.”
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.
Discover the technology that has the power to change your investment world. Visit www.reddeer.com
About Close Brothers Asset Management
Close Brothers Asset Management provides a full range of advice, investment management and self-directed services to private clients and professional advisers. The business operates out of offices in London, Bristol, Manchester, Gatwick, Newcastle, Northwich, Edinburgh and Glasgow.
Close Brothers Asset Management is a trading name of Close Asset Management Limited and is part of Close Brothers Group plc. Close Asset Management Limited is registered in England and Wales and authorised and regulated by the Financial Conduct Authority. Registered number: 01644127. Registered office: 10 Crown Place, London EC2A 4FT. VAT registration number: 245 5013.
Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services, and securities trading. We employ over 2,900 people, principally in the UK. Close Brothers Group plc is listed on the London Stock Exchange and is a member of the FTSE 250.