Consistent with last week's newsletter on the unbundlig of sell-side research, Macquarie is now offering asset managers the option to "pay as you go" on stock reports.
Bentley sees opportunity in what he calls “regulatory tailwinds” and a chance to service under-appreciated clients. Macquarie isn’t “trying to be particularly disruptive about how people consume research, but we are trying to be innovative in how to commercialize it,” he said. Bentley wouldn’t disclose how much clients are expected to pay for discussions with analysts. He did say fees will be in line with booking time with consultants and lawyers. Pricing won’t be “the $10,000 for a call” that’s been reported, he said.