© Reuters.
LONDON and NEW YORK – Broadridge Financial Solutions , Inc. (NYSE: NYSE:) has announced a collaboration with Boring Money to offer asset managers a comprehensive solution for meeting the UK’s Consumer Duty regulation requirements. This new service integrates Broadridge’s analytical capabilities with Boring Money’s consumer data insights, aimed at providing a more complete understanding of retail investors and fund performance.
The partnership brings together Broadridge’s expertise in value reporting, fee data, performance data, and consulting services with Boring Money’s demographic and perception data on end investors. This combined offering is designed to give asset managers and fund boards a correlated view of both quantitative and qualitative aspects of fund distribution and regulatory adherence in the UK market.
Devin McCune, Vice President at Broadridge, stated that the collaboration aligns with their strategy to support asset managers with data-driven regulatory solutions. “The combined offering will provide insights into end investors’ product awareness, usage and sentiment, coupled with quantitative metrics,” McCune explained.
Holly Mackay, CEO of Boring Money, highlighted the challenges asset managers face in accessing comprehensive data, emphasizing the collaboration’s goal to provide a clear picture of both the customer and the products. “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,” Mackay said.
Broadridge is recognized for its distribution-focused data and insights, which support asset managers in growing revenue, managing expenses, and adhering to regulations. The company’s regulatory solutions cater to various global requirements, including the established 15c in the US and the Assessment of Value in the UK, with support for upcoming Irish and European regulations.
Boring Money, since its inception in 2015, has been providing asset managers with insights into their end customers, helping to ensure products serve investors effectively and deliver fair value.
A webinar is scheduled for February 14, 2024, to further discuss how this collaboration will enable a thorough Consumer Duty review. Registration for the webinar is now open.
This initiative is based on a press release statement.
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