Red Deer deploys MiFID II compliance tools to wealth management firm

MiFID II research management company Red Deer has been chosen by wealth management firm Charles Stanley to improve compliance capabilities.

By using Red Deer’s management solution, Charles Stanley can easily integrate MiFID II compliance across its investment process.

Red Deer captures and attributes research consumption across all channels including email, chat and voice to give buy-side firms a more accurate view of their research value. Its Outlook plugin and mobile application accelerates time to compliance and lowers time-consuming processes.

Additionally, its budget management tools empower firms to allocate budgets at the fund, strategy, or individual level and track contributions. The company also offers research management services from front-to-back office, trade and e-comms surveillance, and behavioural analytics to ensure complete MiFID II compliance.

Charles Stanley service and 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.

“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. With the Research Management solution in place, our wealth managers will extract optimum value from research, which in turn will benefit our growing client base.”

Earlier in the year, Red Deer deployed its research management solution to Engadine Partners to help it manage inducement risk, track research consumption across channels and manage budgets compliantly.

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