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Broadridge Financial Solutions Inc. (NYSE: BR) is a leading global provider of investor communications and technology-driven solutions for wealth management, asset management, and capital markets firms. Since its spin-off from ADP in 2007, Broadridge has been at the forefront of financial technology innovation, helping clients manage risk, achieve operational excellence, and drive growth.
Broadridge operates through two main segments: Investor Communication Solutions (ICS) and Global Technology and Operations (GTO). The ICS segment offers comprehensive solutions for proxy voting, regulatory communications, and shareholder engagement, while the GTO segment delivers advanced technology services and outsourcing solutions for trading, portfolio management, and back-office operations.
With over $6 billion in annual revenues and a presence in 21 countries, Broadridge's infrastructure supports the daily trading of more than $10 trillion of equities, fixed income, and other securities globally. The company serves a diverse clientele, including banks, broker-dealers, asset managers, wealth managers, and corporate issuers, providing the critical infrastructure needed to power investing, corporate governance, and communications.
Recent achievements highlight Broadridge's commitment to innovation and growth. The company has reported steady financial performance, including 6% organic recurring revenue growth for the second quarter of fiscal year 2024 and a reaffirmation of its annual guidance. Broadridge continues to enhance its product offerings, such as launching the Broadridge Investor Insights analytics platform to provide issuers with comprehensive investor and voting pattern data.
Broadridge also actively addresses key industry trends like the digitization of communications, mutualization of capabilities, and the evolving landscape of data and analytics. The company's strategic partnerships with financial institutions and corporate issuers worldwide further solidify its position as an industry leader.
Broadridge is a certified Great Place to Work®, employing over 14,000 associates dedicated to delivering unparalleled value to clients and fostering a culture of innovation. For more information about Broadridge and its solutions, visit their website.
Broadridge Financial Solutions (NYSE: BR) announced on October 25, 2022, the automation of Corporate Action and Dividend events for clients using the Euroclear CREST platform. This innovation streamlines processes, reduces human error, and offers cost savings for financial institutions. The new service facilitates event creation, payment processing, and settlement, enhancing operational efficiency. Broadridge's comprehensive end-to-end solution bolsters market connectivity and ensures systematic management of CREST-specific events.
Broadridge Financial Solutions (NYSE:BR) will release its first-quarter fiscal year 2023 financial results on November 2, 2022. A conference call with CEO Tim Gokey and CFO Edmund Reese will follow at 8:30 a.m. ET to discuss these results. Investors can access the live webcast on Broadridge's Investor Relations website. The results are pivotal, given Broadridge's role as a global Fintech leader with over $5 billion in revenue and significant global trading infrastructure supporting over $9 trillion in securities.
Schwab Asset Management has become the first large asset manager to pilot a new proxy polling solution developed by Broadridge Financial Solutions. This innovative tool will allow Schwab to gauge shareholder preferences on key proxy issues related to long-term value, corporate governance, and ESG matters. Starting tomorrow, shareholders of select Schwab funds will receive the poll via email or postcard. The insights gathered will inform Schwab's proxy voting approach and policies, emphasizing their commitment to maximizing shareholder value.
Broadridge's recent whitepaper outlines a forecasted slowdown in organic growth across the global asset management industry, predicting a decline from a CAGR of 3.9% to 1.7% from 2021 to 2031. Despite this, net asset inflows are projected to increase by US$18T, raising total AUM to over USD$170T. The study identifies key shifts in competition, with individual investors expected to drive 69% of net flows, particularly towards private markets and Asia Pacific. New standards of differentiation emphasize the need for faster innovation, stronger distribution, flexible delivery, and better brand building for asset managers to succeed.
Broadridge (NYSE: BR) has announced a strategic partnership with MX to enhance digital engagement tools for wealth management firms. This collaboration will provide financial advisors with a comprehensive 360° view of their clients' financial assets and liabilities, improving the ability to offer personalized insights. The integration of MX's financial data aggregation and management solutions into Broadridge's platform aims to boost advisor productivity and promote long-term financial success for clients. Broadridge continues to innovate in the fintech sector with this initiative.
Broadridge Financial Solutions (NYSE: BR) has launched a new proxy voting service in Austria as part of its Direct Market Solutions (DMS) product suite. This innovation improves operational efficiency by extending the voting window and research period for investors by an average of four days. The automated system enhances communication between investors and issuers, enabling digital submission of voting instructions. Broadridge is committed to driving local market efficiencies, complementing its global voting solutions, which cover over 100 markets. The company reported revenues of $5 billion.
Spruce Point Capital Management released a report on Broadridge Financial Solutions (NYSE: BR) asserting significant downside risk to its stock, estimating a potential drop of 65% to 75%. The firm claims Broadridge's self-identification as a fintech leader is exaggerated, noting that 40% of its revenue stems from low-margin business process outsourcing. Additionally, concerns were raised about Broadridge's aggressive capitalization of project costs and financial stress indicators. The firm warns of potential regulatory scrutiny and the inadequate performance of the recent Itiviti acquisition.
Hamburg Commercial Bank has successfully migrated its SEPA payments business to a cloud-based platform provided by Broadridge Financial Solutions. This transition, completed in under 12 months, follows the earlier migration of high-value TARGET and international SWIFT payments. The new system achieves an operational efficiency with a straight-through processing rate of 99.9%, significantly reducing manual intervention and enhancing service for European customers. This transformation aligns with banking trends towards modern, scalable technology solutions.
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