Given the degree of regulatory complexity in the UK market with edicts from the UK’s Retail Distribution Review and Mifid II, Allfunds said it recognised wealth managers required robust processes around the fund selection for clients.
Compliance has become increasingly important in the UK, the firm said, with local and European regulators and clients demanding more evidence from UK buyers to justify their fund selection process.
And for active managers looking for a competitive edge over passive providers, qualitative research is even more valuable, said Allfunds.
The Allfunds Investment Research tool selects fund recommendations from a wide pool of 46,000 investment vehicles from around the world, provided by nearly 500 fund managers.
The platform is supported by a team of 17 who provide guidance on governance, risk and portfolio analysis, in addition to fund selection.
Enrique Pardo, global head of investment research at Allfunds, argued UK wealth managers will benefit from the broad database of its global platform.
“Given the unprecedented access that Allfunds Research has to fund managers across Europe and the rest of the world, and the role it plays as an institutional rather than retail business, we are in a good position to provide significant qualitative fund manager research, together with portfolio risk analysis and structural and operational due diligence services to help UK wealth managers and other 3rd party fund buyers to fulfil all requirements in order to offer best advisory services to their clients.
Nick Emmins, former director at RBC, has been appointed to head up the new research division. His 30-year career includes several roles at BNP Paribas, including head of business and development, as well as head of investment sales at M&G Investments.
Allfunds head of UK and Ireland, Simon Shapland, commented on the appointment: “Initially we plan to talk further to our existing clients and prospects. We believe Allfunds is in a strong position to offer outsourced funds based investment solutions to the UK fund buyer market, and Nick will be spearheading this initiative.”
Allfunds stated they will offer the new research services to new wealth managers and its existing platform clientele.