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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) will participate in the DA Davidson 19th Annual Software & Internet Conference on September 9, 2020, at 1:05 PM ET. The presentation featuring CEO Tim Gokey will be available via live webcast on the company's Investor Relations page. Broadridge is a global Fintech leader with $4 billion in revenue, providing technology-driven solutions to financial institutions and processing over $8 trillion in trades daily, serving more than 50% of public companies for proxy voting.
Broadridge Financial Solutions reported robust Q4 and FY 2020 financial results, highlighting a 12% revenue increase to $1.362 billion in Q4, and a 4% annual rise to $4.529 billion. Recurring fee revenues grew 14% to $930 million for Q4, driven by organic growth and acquisitions. Although operating income decreased 4% for the fiscal year to $625 million, adjusted EPS rose 8% to $5.03. The company raised its annual dividend for the fourteenth consecutive year.
Broadridge Financial Solutions (NYSE:BR) has launched a new remote proctoring exam for financial advisors, enabling them to obtain fiduciary designations safely online. This initiative, in partnership with ProctorU, addresses the growing demand for such certifications amid social distancing norms. The exams meet ANSI National Accreditation Board standards, allowing candidates to take them from home. With over five million proctor exams administered, this solution aims to enhance accessibility and might set a new standard in certification processes.
Broadridge Financial Solutions (NYSE: BR) reported a record number of new signings for its SRD II solution, responding to the European Commission's updated Shareholder Rights Directive due by September 3, 2020. The demand came from both European and North American markets, including tier-one banks and brokers. Broadridge now serves over 60 clients with its end-to-end solution for proxy voting and shareholder disclosure. The enhancements include a Global Proxy solution and a Shareholder Disclosure Hub using advanced technologies to meet SRD II compliance.
Broadridge Financial Solutions (NYSE: BR) announced the resignation of CFO Jim Young, effective August 31, 2020, as he takes a position at Indigo Ag. Young will remain in his role until the release of Q4 fiscal year 2020 earnings. Matt Connor will serve as Interim CFO during the search for a permanent replacement. Under Young's financial leadership since 2014, Broadridge experienced significant growth, achieving double-digit recurring revenue growth and becoming part of the S&P 500. CEO Tim Gokey praised Young's contributions and expressed confidence in the company's future.
Broadridge Financial Solutions' recent survey reveals that over 50% of financial services firms intend to accelerate their technology strategies post-pandemic. Executives emphasized digitization, focusing on enhancing cybersecurity (63%), multi-channel communications (60%), and customer engagement (53%). Investment priorities have shifted, with 58% planning to increase spending on interactive digital technologies and 54% on AI. The pandemic has highlighted the importance of fintech providers in offering innovative solutions, with 70% of respondents stressing the significance of next-gen technology in their operational models.
Broadridge Financial Solutions (NYSE: BR) has launched its AI-driven corporate bond trading platform, LTX®, which recently executed its first trades. Developed in partnership with Jim Toffey, LTX aims to enhance liquidity, efficiency, and execution in corporate bond trading for broker-dealers and asset managers. The platform utilizes advanced AI and a new digital execution protocol, RFX®, to better connect buyers and sellers in the nearly $10 trillion U.S. corporate debt market. Broadridge continues to innovate in fintech, aiding clients in navigating complex trading environments.
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