LAKE SUCCESS, N.Y.,
Nov. 4, 2016 /PRNewswire/
-- Broadridge Financial Solutions, Inc. (NYSE: BR) has
expanded its wealth management and U.S. Department of Labor (DOL)
Fiduciary Rule compliance capabilities with the acquisition of
M&O Systems, Inc., a leading provider of advisor compensation
management solutions that help broker-dealers and wealth management
firms support advisors and grow their businesses. Terms of the deal
were not disclosed.
With this acquisition, Broadridge expands its wealth offerings
to include advisor compensation and incentive management, advisor
commission portal, account opening and client books and records
solutions. These solutions offer an integrated approach to
compensation across asset classes, including assets held-away,
facilitating commission-based, asset-based and other innovative and
compliant compensation approaches. M&O Systems' technology
complements and extends Broadridge's suite of DOL Fiduciary Rule
solutions, which support firms in making suitable investment
recommendations, producing, distributing and disclosing documents,
and monitoring compensation levels.
"The acquisition of M&O adds best-in-class, back-office
agnostic compensation management solutions to Broadridge's
market-leading product set," said Charlie
Marchesani, President, Global Technology and Operations at
Broadridge. "As a result, Broadridge can now offer broker-dealers
and wealth management firms a more complete suite of front- and
back-office solutions ranging from advisor marketing and practice
management capabilities to mission-critical brokerage investment
platforms."
"These capabilities complement Broadridge's overall DOL
Fiduciary Rule strategy by allowing us to provide a timely solution
to help facilitate clients' compliance with the Rule by
calculating, monitoring, and reporting on compensation and tracking
of Best Interest Contract Exceptions (BICE) and grandfathered
accounts," Mr. Marchesani added.
"Broadridge's market-leading securities processing capabilities,
operational expertise and commitment to serving its client base
will enable us to bring greater value to our customers," said
Sean Haggerty, Chief Executive
Officer and Chief Financial Officer of M&O Systems, Inc. "I am
excited about the opportunities this acquisition will bring for our
team."
M&O Systems will be rebranded as Broadridge Advisor
Compensation solutions.
Marlin & Associates acted as exclusive strategic and
financial advisor to M&O Systems.
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE:BR) is a leading
provider of investor communications and technology-driven solutions
for broker-dealers, banks, mutual funds and other corporations.
Broadridge's investor and customer communications, securities
processing and managed services solutions help clients reduce their
capital investments in operations infrastructure, allowing them to
increase their focus on core business activities. With more than 50
years of experience, Broadridge' s infrastructure underpins proxy
voting services for over 90% of public companies and mutual funds
in North America and processes on
average $5 trillion in equity and
fixed income trades per day. Broadridge employs approximately
10,000 associates in 16 countries.
For more information about Broadridge, please
visit www.broadridge.com.
About M&O Systems, Inc.
M&O Systems, Inc. is a leading provider of compensation,
sales management, regulatory and business process solutions for
retail and institutional broker-dealers, registered investment
advisors and insurance agencies. M&O's technology
solutions are comprised of powerful and flexible configuration
engines enabling our clients to achieve differentiation in the
compensation, account opening, and client servicing tools they
offer to their advisors. We help our clients recruit and retain top
producers, drive efficiency and respond, in real time, to the ever
changing business and regulatory landscape. Located in
New York, NY, M&O has 40 years
of continuous experience servicing some of the largest US financial
services firms.
For more information about M&O, please visit
www.mandosystems.com.
Contact information:
Investors:
W. Edings
Thibault
Investor Relations
+1 516-472-5129
Edings.Thibault@broadridge.com
Media:
Brett
Philbin
Edelman
+1 212-704-8263
Brett.Philbin@edelman.com
Linda Namias
Broadridge Corporate Communications
+1 631-254-7711
Linda.Namias@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.