Broadridge Gets Bigger Through Acquisition

Acquisitions

▤ Summary

Broadridge has more than $4 billion in annual revenues and provides proxy voting services to more than half of public companies and mutual funds globally. But its seeking to grow in the space of advising wealth managers, not simply one on one, but with software that helps monitor and make sure they do whats best for their clients. "Compensation management and compliance are key industry areas in need of transformation,” said Michael Alexander, head of North American Wealth and Capital Markets Solutions for Broadridge. That, actually, is a big change, since advisors in the past could easily suggest investments that yielded the highest commisions for them - even if there were comparable products with lower charges to their clients. “We are excited to become part of industry leader Broadridge and to work together to continue to bring innovative solutions to a greater number of clients,” David Woltman, president of Financial Database Services, said.

▥ Classifications

industries
Fintech & Banking
applications
Accounting and Taxes

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