Research and dealing

Firms must decide how much to spend on investment research and how to pay for that research.

MiFID ll has broken the direct link between dealing and receipt of broker research. This module of the Investment Platform Effectiveness benchmark gives firms information they need to take decisions about research spending and dealing.

MiFID II requires fund managers either to pay for investment research themselves or have clients pay.

We ask firms to give simple data and answer a set of multiple choice questions.

  • We produce an anonymised comparison of spending on equity, fixed income and multi-asset research. We show your results as absolutes and ratios.
  • For example, we show spend as a proportion of asset class revenues, amount spent per research user and what managers are paying for an hour of broker-analyst’s time
  • Each year we develop the survey. This year we cover multi-asset, fixed income and equity research.
  • Firms will receive a company-specific report and presentation, with the implications for your firm spelt out.
  • You will be invited to forums covering best practice in meeting FCA and MiFID ll requirements.

Our Track Record

    • We have data going back to 2010 to help firms make their research policy decisions.
    • We help firms to create the research policies, budgets and governance to manage research whether firms decide to buy research from P&L or opt for a Research Payment Account.
    • We have helped over 40 teams develop research budget methodologies for their investment strategies.

    If you would like to learn more about the Research and dealing service call Richard Phillipson on 02079339900.

What Our Clients Say