Close Brothers Asset Management (CBAM), a UK-based wealth manager, has implemented Red Deer’s research management solution in a bid to improve its MiFID II processes.
The vendor said that its solution will enable the asset manager to enhance its research budget management as well as effectuate stringent measures around inducement throughout its investment business.
Red Deer’s research valuation management solution procures firm research consumption across multiple research channels such as chat, voice and email to provide a precise view of research value to buy-side firms.
Furthermore, Red Deer’s Outlook plugin and mobile application enables firms to become MiFID II compliant swiftly, while causing minimal disturbance to their investment process.
The solution’s advanced budget management enables firms to determine budgets at the fund, strategy or individual level as well as track hard and soft budgets contributions.
The compliance teams of firms can utilise the exception-based oversight reporting function of the solution to boost operational efficiencies and transparency.
Close Brothers Asset Management research head Robert Alster said: “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. By streamlining the research process and making it more efficient, we are able to deliver even greater transparency and value to our clients.”