Extends strategic relationship in response to
U.K. FCA's regulatory requirements
NEW YORK and LONDON, June 12,
2024 /PRNewswire/ -- Global Fintech leader Broadridge
Financial Solutions, Inc. (NYSE: BR) today announced a new
agreement with leading global investment management firm,
Schroders, to better protect consumers and prioritize their needs
under the U.K. Financial Conduct Authority's (FCA) Consumer Duty
rules.
"We are excited to have extended our relationship with
Broadridge, a trusted global technology partner, to facilitate
better outcomes for investors," said James
Rainbow, Head of UK, Schroders. "With Broadridge's in-depth
knowledge of fund data, document dissemination and related
regulatory reporting experience, we know we are in good hands. This
partnership means that we can really focus on our key business
strategies by letting Broadridge handle the operational workflow
process and complexities associated with streamlining the
distributor feedback process for us."
Under the Consumer Duty, fund manufacturers such as Schroders
are required to review their products on a regular basis by
collecting information from distributors. Schroders is achieving
this using Broadridge's service that leverages the U.K. Joint Trade
Association's Distributor Feedback Template (DFT) in order to
collect standardized and thus comparable data on their retail
facing funds. A suite of analytics combined with custom dashboards
enrich the feedback data and deliver meaningful insights while an
online portal provides the capabilities for qualitative
feedback.
"We look forward to working with Schroders to support their
regulatory reporting obligations under the U.K.'s Consumer Duty,"
said Stephen Johnston, Head of Fund
Communication Solutions, Broadridge. "Through proprietary
algorithms, large and unique data sets, and powerful, predictive
analytic solutions we give clients a strategic edge and help them
make smarter decisions."
The Broadridge service is built on decades of experience gained
from managing the flow of data between manufacturers and
distributors and is capable of gathering and distributing both
quantitative as well as qualitative data, collected in multiple
formats and validated through an advanced end-to-end technology
platform. Additionally, Broadridge is providing Schroders with
in-depth analytics that deliver actionable observations that help
them identify the strengths and weaknesses in their retail product
sales channels and distributor sales patterns and supporting their
Consumer Duty compliance.
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 that
drive business transformation for 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. Our technology and operations platforms underpin the daily
trading of more than $10 trillion of
equities, fixed income and other securities globally. A certified
Great Place to Work®, Broadridge is part of the S&P 500® Index,
employing over 14,000 associates in 21 countries.
For more information about us, please visit
https://www.broadridge.com/.
About Schroders plc
Schroders is a global investment management firm with £750.6
billion (€866.2 billion; $956.9
billion) assets under management, as at 31 December 2023. Schroders continues to deliver
strong financial results in ever challenging market conditions,
with a market capitalisation of circa £7 billion and over 6,400
employees across 38 locations. Established in 1804, the founding
family remains a core shareholder, holding approximately 44% of
Schroders' shares.
Schroders has benefited from a diverse business model by
geography, asset class and client type. It offers innovative
products and solutions across four core growing business areas;
asset management, solutions, Schroders Capital (private markets)
and wealth management. Clients include insurance companies, pension
schemes, sovereign wealth funds, high net worth individuals and
foundations. Schroders also manages assets for end clients as part
of its relationships with distributors, financial advisers and
online platforms.
Schroders aims to provide excellent investment performance to
clients through active management. It also channels capital into
sustainable and durable businesses to accelerate positive change in
the world. Schroders' business philosophy is based on the belief
that if we deliver for clients, we will deliver for our
shareholders and other stakeholders.
Issued by Schroder Investment Management Limited. Registration
No 1893220 England. Authorised and regulated by the Financial
Conduct Authority. For regular updates by e-mail please
register online at www.schroders.com for our alerting
service.
Broadridge Contact:
Amelia Erswell
BroadridgeEMEA@cognitomedia.com
+44 (0) 7582497230
Schroders Contacts:
Andy Pearce
Head of Media Relations
+44 20 7658 2203
Andy.Pearce@Schroders.com
Augustine Chipungu
PR Manager
+44 20 7658 2106
Augustine.Chipungu@Schroders.com
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