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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 Inc. (NYSE: BR) is introducing a groundbreaking integration of multiple asset servicing functions into a single, real-time, multi-currency platform. This innovative solution streamlines traditionally fragmented activities across capital markets, wealth management, asset management, and global custody. The platform combines over 18 components, including tax and performance reporting, cost basis, proxy, class actions, reclaims, and a global custody platform.
Key features of Broadridge Global Asset Servicing include:
- Modular design for seamless onboarding
- Efficient data consolidation and reconciliation
- Simplified tech stack for straight-through processing
- Real-time data supporting advanced AI analytics
- Omnichannel communications system
Broadridge Financial Solutions, Inc. (NYSE:BR) has announced that a Tier-1 Canadian Bank has implemented its Distributed Ledger Repo (DLR) platform for High-Quality Liquid Asset (HQLA) treasury securities management. This marks the first implementation of this HQLA use case through DLR, showcasing the potential of Distributed Ledger Technology (DLT) in transforming financial operations.
The implementation is expected to simplify workflows, generate cost savings, and lay the foundation for further DLT use cases in the financial sector. Broadridge's DLR platform is experiencing global expansion across sell-side and buy-side firms, creating a network effect and supporting a wider variety of transaction types. The platform has reached a monthly volume of $1 trillion in the global repo market.
Broadridge Financial Solutions (NYSE:BR) has integrated its securities-based lending (SBL) tools from the Wealth Lending Network (WLN) marketplace into Morningstar Advisor Workstation. This collaboration enables over 150,000 independent advisors to access lending solutions seamlessly, helping them support broader client financial goals. The integration allows advisors to:
1. Determine clients' SBL borrowing potential
2. Connect with WLN partner banks
3. Access advanced predictive prospecting and sales capabilities
This move aligns with the growing demand for flexible, simplified, and integrated financial solutions, allowing advisors to provide more comprehensive services and strengthen client relationships. Clients benefit from an alternative to liquidating investment portfolios, potentially avoiding capital gains taxes and preserving their investment strategy.
Broadridge Financial Solutions (NYSE:BR) has launched CommCentral, a new cloud-based data solution for banks and broker-dealers. This platform offers real-time visibility into investor communications, featuring AI-enabled query capabilities, customizable alerts, and process automation. CommCentral also provides access to API services, including a Communications API for instant data access.
Key benefits include:
- Simplified dashboard navigation
- AI assistance for large data sets
- Customized reporting and alerts
- Real-time actionable insights
The platform aims to enhance efficiency, streamline tasks, and provide critical insights into investor communications trends. Broadridge plans to expand CommCentral's features, including AI-generated use cases, engagement trend analysis, and peer assessments.
Broadridge Financial Solutions (NYSE: BR) has maintained its #3 ranking in the 2024 IDC FinTech Rankings Top 100 for the tenth consecutive year. The ranking, based on 2023 calendar year revenues, recognizes leading hardware, software, and service providers in the financial services industry globally. Tim Gokey, CEO of Broadridge, emphasized the company's commitment to delivering innovative technology that enables financial institutions to drive growth, enhance client experience, and reduce costs.
IDC forecasts that the financial services industry will spend over $800 billion on IT globally by 2026. The IDC FinTech Rankings, now in its 21st year, has expanded to include the top 150 solutions providers. Broadridge's consistent presence on this list reflects its role in providing the technological backbone for the financial services industry.
FIA Tech, a leading futures industry technology provider, has announced a partnership with Broadridge Financial Solutions (NYSE:BR) to enhance its Trade Data Network (TDN) capabilities. The collaboration will leverage Broadridge's COMS solution and NYFIX Order Routing Network to provide interoperability across networks and promote standardization in exchange traded derivatives (ETD).
This partnership aims to streamline onboarding for brokers and clients to TDN, enhancing operational efficiency and transparency. Clients joining TDN will benefit from faster onboarding of counterparties and streamlined processing through Broadridge's extensive network. The collaboration highlights the growing trend of financial firms outsourcing critical infrastructure to focus on their core business.
Broadridge Financial Solutions (NYSE: BR) has released a new whitepaper addressing the urgent need for financial services firms to enhance operational resilience in response to the EU's Digital Operational Resilience Act (DORA) and other global regulations. The paper, titled 'Building Resilience Across Borders,' highlights the extensive regulatory expectations and necessary preparations for compliance.
Key findings include:
- Operational resilience is a worldwide regulatory priority
- DORA mandates significant changes to operational risk management
- Firms must begin compliance preparations now for the January 2025 enforcement date
- Noncompliance may result in stringent enforcement actions
- Increased focus on third-party service providers and internal IT systems
The whitepaper emphasizes the critical importance of operational resilience in strengthening trust and security against growing cyber risks and disruptions.
Broadridge Financial Solutions Inc. (NYSE: BR) has launched Tradeverse, a revolutionary cloud-native data platform designed to transform how global financial firms manage their trading data. This innovative solution consolidates real-time, multi-asset class data from various vendor applications and platforms, covering the entire transaction lifecycle from orders to settlement.
Tradeverse aims to eliminate data silos, simplify access with a common data ontology, and incorporate robust security measures. It provides a unified, harmonized data platform that reduces errors and unlocks insights for key functions across trading desks, operations, risk, finance, and regulatory departments. The platform's clear data structure and true data harmonization enable more efficient regulatory reporting, compliance, and complex data searches using natural language.
Broadridge has already implemented Tradeverse with a global bank, demonstrating its effectiveness in harmonizing trade data. Additionally, a top ten capital markets firm is utilizing Tradeverse in conjunction with Broadridge's Generative AI tool for Operations (OpsGPT) to identify and implement productivity gains in areas such as settlement fails analysis.
Broadridge Financial Solutions (NYSE: BR) reported strong results for Q4 and fiscal year 2024:
- Fiscal 2024 Recurring revenues grew 6% to $4.22 billion
- Diluted EPS up 11% to $5.86, Adjusted EPS up 10% to $7.73
- Record closed sales of $342 million, up 39%
- Dividend increased 10% to $3.52 per share
FY2025 guidance: 5-7% Recurring revenue growth and 8-12% Adjusted EPS growth. Q4 highlights include:
- Total revenues up 6% to $1.94 billion
- Operating income down 3% to $441 million
- Adjusted Operating income up 5% to $559 million
- Diluted EPS flat at $2.72, Adjusted EPS up 9% to $3.50
Broadridge announced three acquisitions to expand capabilities in wealth management, capital markets, and financial technology.
Broadridge Financial Solutions (NYSE: BR) has announced its upcoming financial results release for Q4 and fiscal year 2024, scheduled for August 6, 2024. The company will host a webcast and conference call at 8:00 a.m. ET on the same day to discuss the results. CEO Tim Gokey and Interim CFO Ashima Ghei will participate in the call.
Investors can access the live event and slide presentation via Broadridge's Investor Relations website or by dialing in. A replay of the webcast will be available on the website, and a recording of the call will be accessible until August 13, 2024, using specific dial-in numbers and a passcode.
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