Source: Tier1 Financial Solutions
Tier1 Financial Solutions (“Tier1”), a leading global relationship management technology provider for capital markets and banking, has expanded its buy-side product line with the release of conference management capabilities.
The Tier1 corporate access events management system provides buy-side firms with the ability to both originate and consume broker-led events while reducing costs.
The expanded product suite was a natural development aligning to the evolving needs of buy-side firms. The capabilities allow buy-side firms to originate and arrange conferences with the companies in which they invest and not just capture and consume events from the sell side. While these firms plan to originate more conferences in-house and in partnership with their peers, participating in broker-led conferences remains a value-added service that Tier1 continues to support. The new conference management capabilities streamline the coordination between conference participants and gives more control to the buy side when tracking their requests and allocations offered by the brokers to their portfolio managers and analysts.
The key value add is the ability to reduce cost by going direct to corporations they invest with. The price of outsourcing the arrangement of a meeting to the sell side can vary depending on the quality of the company and the research services provided. A buy-side firm originating meetings can typically save hundreds of thousands of dollars, contributing to either the performance of the fund’s P&L or shareholders’ returns, depending on how the expenses are reported.
“This latest product offering from Tier1 is just another step in our vision to transform the technology used by the buy side and the sell side,” said Doug Christensen, EVP of Strategy at Tier1. “We see a future where we can now start connecting the end-to-end event distribution process from our sell-side clients directly to the buy side using Tier1's platform at both ends. The industry has longed for a standardized, consistent and private network to exchange and consume content. We are one step closer to automating this workflow and improving the quality of these value-add interactions being tracked by the buy side to feed the broker voting process.”