With products that help front-, middle- and backoffice operations, Broadridge Financial Solutions is all about increasing efficiency for advisors
Since 2007, Broadridge Financial Solutions has been focused on how its platforms can help advisors with key issues in regard to modernization, transformation and growth. Broadridge has two main lines of business: investor communications and global technology and operations, which includes security processing and transactional books and records for capital markets and wealth. Over the last couple of years, Broadridge has focused its wealth strategy on being able to provide end-to-end agnostic solutions.
“From a wealth management perspective, we offer solutions to clients from front-, middle- and back-office perspectives,” says Donna Bristow, managing director of North American wealth at Broadridge. “We offer solutions from helping advisors with prospecting and onboarding, through to middle solutions for asset collection, transferring onboarding and cash to be invested. We have workflow engines to help advisors do their day-to-day business and a full suite of back-office books, records and asset-servicing solutions.”
Broadridge also offers products that help advisors with client communications, performance engines, statement confirmations and tax reporting. Bristow sees Broadridge’s line of products as a way for advisors to manage more clients more efficiently.
“We have a very integrated approach where we provide integration across all our own products,” she says. “As well, we have focused on leveraging technology through API and web services, which allows for easier integration of the Broadridge products and services to a third party.”
This ability to integrate is a key benefit of Broadridge’s offerings, Bristow says. “Advisors get our wealth strategy that will enable them to focus on what the enterprise firm wants to use from a middle- and back-office perspective,” she says. “Broadridge provides the ability to integrate any proprietary capabilities already being used. The advisor can pick and choose the tools they like or want to use while still following the enterprise mandate, and Broadridge can facilitate that collaboration between the two.”
Typically, Broadridge sells its products at an enterprise level. However, its integration capabilities give advisors the ability to use Broadridge products with their existing software. Moving forward, Broadridge plans to remain focused on integration to allow firms to continue to use their proprietary capabilities along with Broadridge’s solutions in an easy, cost-effective matter.
“We offer flexibility so that if a firm has 5,000 advisors, we can give each advisor a different experience based on third-party integration of other tools such as a CRM or whatever they’re accustomed to using,” Bristow says.
As advisors seek to expand their client base, Bristow feels that technology will become even more crucial to their day-to-day operations. “Giving advisors more capabilities through technology will allow them to be more successful,” she says. “Clients will be stronger because they will have more tools and insights into their investments while working with an advisor.”