Boring Money and Broadridge Financial Solutions, Inc are to provide a single source of data and insights for asset managers designed to combine product analysis with consumer perspective to holistically address the requirements of the UK’s Consumer Duty regulation.
“The Broadridge and Boring Money collaboration is exactly what’s needed in the market to help asset managers meet the requirements of the Consumer Duty regulation and is aligned with Broadridge’s strategy to provide data-driven solutions for their regulatory needs,” says Devin McCune, vice president of governance, risk and compliance services for Broadridge’s Distribution Insights business. “The combined offering will provide insights into end investors’ product awareness, usage and sentiment, coupled with quantitative metrics, creating the most comprehensive solution possible for asset managers and fund boards.”
“Asset managers are struggling to find the information they need today, relying on distributors for incomplete data sets. The goal of this collaboration is to provide a clear picture of both the end customer and the products, and to benchmark the information against peers, enabling asset managers to provide independently sourced data to boards while also focusing on actionable improvements,” says Holly Mackay, CEO of Boring Money. “We are thrilled to be working with Broadridge to combine our respective insights and to deliver a solution that helps asset managers meet their requirements while protecting UK retail investors.”
The collaboration brings together Broadridge’s value reporting, fee and performance data, and consulting services with Boring Money’s end investor demographic and perception data, which enables asset managers to better understand and service the retail investors that purchase their funds through intermediaries. The firms writes that the resulting solution provides an unparalleled, holistic view to asset managers and fund boards that correlates quantitative and qualitative information regarding fund distribution and regulatory compliance in the UK.
