Close Brothers opts for Red Deer’s MiFID II research service

UK buy-side firm adopts research service to comply with new rules on research consumption under MiFID II.

UK buy-side firm Close Brothers Asset Management has implemented Red Deer’s research management service for handling research under MiFID II.

The move means Close Brothers will be able to manage research budgets and enforce stricter controls around inducement across its investment business via the research valuation management tool.

It also offers the ability to capture and attribute firm research consumption across channels including email, chat and voice for a more accurate view of research value.

“Red Deer demonstrated a flexible, user-friendly solution that provides us with a single-point of entry for research consumption, inducement and attribution management,” said Robert Alster, head of research at Close Brothers Asset 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.”

Henry Price, CEO of Red Deer, added that his team works closely with clients to fully understand requirements and to deliver a more tailored service.

“A tailored solution not only accommodates [clients’] 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.”