Source: Broadridge Financial Solution
Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and part of the S&P 500 Index, today announced that it has acquired Financial Database Services, a trusted provider of compensation management, compliance and advisor onboarding solutions for the wealth management industry.
The acquisition expands Broadridge’s current market leading advisor compensation management capabilities and underscores its commitment to bringing value-added technology solutions to the wealth management industry.
“The acquisition of Financial Database Services is the latest example of Broadridge expanding our wealth capabilities and growing our client base,” said Michael Alexander, head of North American Wealth and Capital Markets Solutions for Broadridge. “Compensation management and compliance are key industry areas in need of transformation, and we look forward to extending our industry leading capabilities.”
Financial Database Services, the developer of the CAESAR suite of products, provides a modular suite of compensation and compliance tools to the marketplace, including advisor onboarding and analytics solutions. With the SEC’s recently adopted Regulation Best Interest rule, the solutions strengthen Broadridge’s position to help clients with adoption and compliance.
“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,” said David Woltman, President of Financial Database Services.
Terms of the deal were not disclosed.