Wattletree takes data from platforms, dealer groups, unit registries and other sources and collates and appends the data with demographic information in order to deliver quarterly reports showing the TMD characteristics of a product against the population characteristics for that product.
THE PROBLEM AT HAND
Financial services firms are understandably concerned as to how to make DDO ‘real’. Each product issuer will need to put ‘rails’ around the distribution of their products (by way of a Target Market Determination (TMD)), and then make sure that the requirements are adhered to. On the other side of the fence, distributors need to find a way to manage hundreds if not thousands of TMDs.
WHY A MARKETPLACE SOLUTION?
Rather than each issuer and distributor needing to build DDO data flows and lakes, you can instead focus on better understanding your customers and their needs.
HOW DO DISTRIBUTORS BENEFIT FROM PARTICIPATING IN WATTLETREE?
Dealing with individual data requirements and TMD tracking across hundreds (if not thousands) of product issuers is a massive undertaking. Instead of dealing with each issuer individually, distributors can save time, money and headcount by working with a single service – Wattletree.
WHO IS BUILDING WATTLETREE? AND CAN THEY GET IT DONE IN TIME?
Wattletree is a 50/50 JV between Mayflower Consulting and MarketSoft. MarketSoft already has a similar product in market for the NFP industry (www.lemontree.com.au) so will be able to build Wattletree in good time for the start of the DDO regime in October 2021. Plus, Marketsoft already provide data services for a number of large financial services companies.