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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) has announced its participation in upcoming investor events. The company will engage in individual investor meetings at the Baird Global Consumer, Technology & Services Conference in New York City on June 5, 2024, hosted by CFO Edmund Reese. Additionally, CEO Tim Gokey will represent Broadridge at the RBC Capital Markets Financial Technology Conference, also in New York City, with a scheduled presentation at 10:40 AM ET on June 11, 2024. Investors can access a fireside chat with management on Broadridge's Investor Relations page.
Broadridge has acquired AdvisorTarget, enhancing its capabilities in digital distribution and marketing for asset management and wealth firms. The acquisition is set to bolster Broadridge's suite of tools, integrating AdvisorTarget’s advanced marketing automation and analytics technology. This move aims to support clients by enabling more personalized and effective marketing campaigns. Broadridge expects this enhancement to solidify its market position and drive business growth in the digital marketing sector.
The latest U.S. Investor Study from Broadridge Financial Solutions reveals key trends in American investment habits.
Self-directed assets have increased to 23% and investors without a college degree now exceed 50%.
ETF usage has surged from 31% in 2018 to 47% in 2023, and is expected to surpass 50% by 2025. Millennial investors are on course to outnumber Gen-X investors, with their count rising by 9 percentage points since 2018.
Female investors now have higher median assets than males, at $52,105 compared to $50,271.
The report also highlights a shift away from mutual funds toward ETFs and equities, particularly among younger generations.
Data from over 40 million U.S. retail investors across various asset classes was used to compile the study.
Broadridge Financial Solutions (NYSE: BR) announced a quarterly cash dividend of $0.80 per share.
The dividend will be payable on July 5, 2024, to stockholders of record as of June 14, 2024.
Broadridge Financial Solutions (NYSE: BR) announced its participation in the upcoming J.P. Morgan Global Technology, Media, and Communications Conference in Boston on May 20, 2023.
CEO Tim Gokey will represent the company in a fireside chat at 9:20 AM ET, discussing Broadridge's strategy and performance. The event will be accessible via Broadridge's Investor Relations page.
Global Fintech leader Broadridge Financial Solutions, Inc. announced the acquisition of Kyndryl's Securities Industry Services (SIS) wealth and capital markets technology platform for Canadian financial services firms. The partnership aims to enhance innovation and technology capabilities for Canadian clients. The transaction is expected to close in the coming months with no significant financial impact on Broadridge.
LTX, a subsidiary of Broadridge Financial Solutions Inc., has integrated with MultiLynq to accelerate connectivity to the LTX platform. This partnership aims to help dealers and asset managers onboard to the AI-powered corporate bond trading platform more quickly and efficiently.
Broadridge Financial Solutions, Inc. (NYSE: BR) reported a 4% growth in recurring revenues, with diluted EPS at $1.79 and adjusted EPS increasing by 9% to $2.23. Q3 closed sales rose by 29%, and the company expects steady growth for fiscal year 2024, with recurring revenue growth at the low end of 6-9% guidance range and adjusted EPS growth in the middle of 8-12% range.
Prometheum Capital , a subsidiary of Prometheum Inc., has chosen Broadridge Financial Solutions, Inc. for back-office solutions to enhance its digital asset securities services. Broadridge's solutions will include bookkeeping, trade capture, reconciliations, and regulatory reporting. This strategic partnership aims to establish a sophisticated, regulated market infrastructure for investors. Prometheum also plans to provide ETH custodial services this quarter.
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