Boring Money and Broadridge launch Consumer Duty solution for asset managers

investmentweek.co.uk:

Holly Mckay (pictured) is the CEO of Boring Money, an independent financial data and insights business.

The solution aims to offer a single source of data and insights for asset managers, combining product analysis with consumer perspective, providing firms with quantitative and qualitative information about fund distribution and regulatory compliance in the UK.

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Broadridge will offer its value reporting, fee and performance data, and consulting services, while Boring Money will provide end-investor demographic and perception data to better understand and service the retail investors who purchase asset managers' funds through intermediaries.

«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,» said Devin McCune, vice president of governance, risk and compliance services for Broadridge.

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Holly Mackay, CEO of Boring Money, added: «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."

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