Broker Relationship Management
As regulatory requirements grow, there is a mandate to justify and rationalize broker utilization. What is required for managers is a combination of commission tracking, event tracking and broker voting. The goal is to have a commission and broker suite of applications that utilizes a firm’s data not only to meet regulatory requirements but also to help managers in the entire range of relationships with brokers and with each individual broker they use. It makes the relationship between firms and their brokers equal and provides a means to engage brokers based on data backed metrics.
White Paper Topics:
Evaluating Broker Effectiveness for Performance [PDF]. Watch the video here.
By deploying the full application, MIK clients obtain a sophisticated view into all of the interactions with their execution and research brokers, thereby creating a powerful analytic tool for managers to monitor, measure, and evaluate broker performance across a customized array of categories, defined and chosen by the fund.
Broker Relationship Manager provides the following benefits:
- Centralized broker event and commission data capture and reporting system - time series data and audit trail (Events, Commission and Voting History)
- Data collection and integration (MS Outlook, OMS, Accounting)
- Meeting/Event Scheduling with push to outlook
- User defined views for commission data and trends based upon multiple input criteria
- Workflow management for online voting and automated event integration with MS Outlook
- Tracking, analysis and reporting on soft dollar commissions and provides the capability to exclude soft payments from the commission totals for those brokers handling the commission sharing
- Reporting and charting for commission trends over time, including rate-per-share analysis, total commission dollar trends by broker, broker’s share of firms commissions paid, etc.
- Commission allocation management and alerts
- Ranking and rating ability on user defined objective and subjective criteria (Multiple Methodologies)
- Elimination of the need for time consuming MS Excel based reporting