British wealth manager Charles Stanley has turned to fintech firm Red Deer in order to provide buy-side firms an accurate picture of their research value under MiFID II.
The wealth manager will leverage the vendor’s Research Management solution, which is designed to capture research consumption across multiple channels such as chat, voice, and email.
The Outlook plugin and mobile application of the vendor is said to accelerate the process of MiFID II compliance. Moreover, this can be done with very little disruption to the investment process, the vendor noted.
Red Deer VP of product Alistair Downes 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.”
The technology is also said to facilitate budget allocations at the fund, strategy or individual level.
Charles Stanley service & product lead Freddy Horn said: “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.
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By GlobalData“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.”
Charles Stanley caters to private clients, charities and smaller institutions from 27 offices across the UK. The business oversees £24.4bn in assets and has a staff headcount of over 800.