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Schroders Bolsters Regulatory Reporting Tech with Implementation of Broadridge’s Consumer Duty Solution for Distributor Feedback

Extends strategic relationship in response to U.K. FCA’s regulatory requirements

NEW YORK and LONDON, June 12, 2024 – 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 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.

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 www.broadridge.com.

To contact media relations, please email us at mediarelations@broadridge.com.