Broadridge boosts digital capabilities with AdvisorTarget acquisition
NEW YORK, UNITED STATES — Global fintech provider Broadridge Financial Solutions, Inc. has acquired AdvisorTarget, a provider of data products for asset and wealth management firms, for an undisclosed amount.
The acquisition aims to enhance digital marketing, sales, and engagement programs targeting financial advisors by integrating AdvisorTarget’s unique advisor insight with Broadridge’s comprehensive data analytics suite.
“Our clients will benefit from a more fully integrated, data-driven, digital marketing and sales offering to achieve sales efficiencies, improve customer experiences, and enhance sales and revenue opportunities,” said Dan Cwenar, head of Data and Analytics at Broadridge.
“With growing pressure on distribution costs, digital marketing programs have taken on a larger role to help asset managers and others improve engagement with advisors and identify stronger opportunities.”
DC Advisory and Broadhaven Capital Partners were the exclusive financial advisors for Broadridge and AdvisorTarget, respectively, throughout the acquisition process.
Solving the advisor distribution challenge of AdvisorTarget
AdvisorTarget, recognized for its pivotal role in refining digital distribution strategies for asset managers, collects advisor behavioral intent data to help identify new advisor relationships where purchase intent aligns with product strengths.
Duncan MacDonald-Korth, Founder and ongoing Head of AdvisorTarget, expressed enthusiasm for the acquisition, stating, “Not only will this acquisition turbo charge AdvisorTarget’s next phase of growth and perfectly integrate with Broadridge’s market-leading analytics offerings, but it will finally solve the advisor distribution riddle for our clients. Together, we look forward to creating new and exciting solutions to accelerate growth for asset and wealth managers.”
Broadridge’s global fintech footprint
The transaction comes after Broadridge’s purchase of Kyndryl’s Securities Industry Services (SIS) wealth and capital markets technology platform. The move strengthens Broadridge’s position as a leading technology provider for Canadian financial services firms.
The SIS solutions, renowned for their comprehensive services in clearing and settlement, account record keeping, and regulatory compliance, will be integrated into Broadridge’s portfolio.
With over $6 billion in revenues, Broadridge provides critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. It employs over 14,000 associates across 21 countries.
