Unparalleled, holistic insights created for
asset managers and fund boards from combined product and consumer
data sets
LONDON and NEW
YORK, Jan. 11, 2024 /PRNewswire/ -- Boring
Money, a financial data and insights business, has collaborated
with global Fintech leader Broadridge Financial Solutions,
Inc. (NYSE: BR) to provide a single source of data and
insights for asset managers that combines 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," said 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,"
said 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
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.
Broadridge is a leading provider of distribution-focused data
and insights for the global asset management community, helping
them grow revenue, manage expenses and adhere to fast changing
regulations. Broadridge's regulatory solutions range from the long
established 15c requirement in the US to the Assessment of Value in
the UK and will support upcoming Irish and European requirements.
Broadridge's comprehensive capabilities include services to mutual
fund boards who are required to assess their fund's reasonableness
related to cost and performance and include support for data
sharing via the Distributor Feedback Template (DFT), which helps
support asset managers with their Consumer Understanding and
Consumer Support obligations.
Boring Money helps asset managers to understand their end
customers, how well their products are serving them, and to
evidence whether they are delivering fair value and supporting the
outcomes which retail investors say they want. Boring Money has
been capturing consumer data for asset management clients since
2019 and can provide insights on customer demographics, wealth,
timeframes, risk appetite and more.
A webinar is scheduled for February 14,
2024 at 2 PM GMT to discuss
how the combined Broadridge and Boring Money offering will
facilitate the most in-depth Consumer Duty review possible.
Registration is available to all at
https://webinars.on24.com/broadridge/consumerduty and is now
open.
About Broadridge
Broadridge Financial Solutions (NYSE:
BR), a global Fintech leader with over $6
billion in revenues, provides the critical infrastructure
that powers investing, corporate governance and communications to
enable better financial lives. We deliver technology-driven
solutions to banks, broker-dealers, asset and wealth managers and
public companies. Broadridge's infrastructure serves as a global
communications hub enabling corporate governance by linking
thousands of public companies and mutual funds to tens of millions
of individual and institutional investors around the world. In
addition, Broadridge's technology and operations platforms underpin
the daily trading of on average more than U.S. $10 trillion of equities, fixed income and other
securities globally. A certified Great Place to Work®, Broadridge
is a part of the S&P 500® Index, employing over 14,000
associates in 21 countries. For more information about Broadridge,
please visit www.broadridge.com.
About Boring Money
Boring Money was founded in the UK
in 2015 and is an independent financial data and insights business.
The group has a consumer-facing site which helps British savers and
investors to make better choices, providing guidance, information,
tips and comparison services on investment products and pensions.
Using data from their proprietary investor panel and regular
surveys, Boring Money also supports banks, platforms, wealth
managers and asset managers with data and insights about retail
investors, publishing consumer tracking studies and reports. Boring
Money was voted Best Investment Website and Best Investment Blog in
2022 by Investment Week, and founder Holly
Mackay was voted Investment Week's Investment Woman of the
Year (Small to Medium Firms) for the second consecutive year in
2023 as well as Marketing Influencer of the Year 2023. For more
information about Boring Money please visit www.boringmoney.co.uk
to see the consumer site, or www.boringmoneybusiness.co.uk for the
B2B site.
Media contacts:
Europe
Cognito
BroadridgeEMEA@cognitomedia.com
North America
Prosek
Partners
mluongo@prosek.com
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SOURCE Broadridge Financial Solutions, Inc.