NEW
YORK, Sept. 10, 2024 /PRNewswire/ -- GlobeTax,
the world's leading provider of tax recovery solutions, and
BetaNXT, a provider of wealth management technology and data
capabilities, have joined forces to strengthen tax recovery
services for more financial institutions. As part of the strategic
collaboration, GlobeTax's cross-border tax reclamation capability
has been directly integrated into BetaNXT's comprehensive
back-office and wealth management platform.
The partnership allows broker-dealers and financial institutions
on the BetaNXT platform to easily provide their clients with
comprehensive relief at source, post-payable, and expedient refund
solutions. As part of the integration, BetaNXT clients can opt to
leverage GlobeTax's expertise in either withholding the proper
amount on payment date or reclaiming over-withheld funds, helping
investors maximize returns on their dividend and interest
income.
The benefits of the integration are available immediately to all
DTCC participants that rely on BetaNXT.
"By integrating GlobeTax's market-leading tax recovery services
into our platform, we are offering our customers a seamless
solution that further de-risks their operations while maximizing
return on investment for clients," said Michael Pass, President of Maxit, BetaNXT's tax
reporting and cost basis business. "This is the latest
milestone in our ongoing mission to work with best-in-class
partners to power the next generation of frictionless, end-to-end
wealth management—and make the Connected Wealth experience a
reality."
BetaNXT participants can also benefit from reduced
administrative burdens, faster processing times, and expanded
reclaim opportunities, helping ensure that investors capture
entitlements across their global investment portfolios. Their
cooperation highlights the commitment of both companies to
enhancing the client experience by leveraging cutting-edge
technology and global expertise.
"We are thrilled to partner with BetaNXT to bring our tax
recovery solutions to more investors and financial institutions
across the country," said Jonathan
Sturman, Managing Director at GlobeTax. "By integrating
our solutions into their platform, we are simplifying the reclaim
process and empowering financial institutions to optimize returns
for their clients. This collaboration marks a significant step
toward our vision of making tax recovery more accessible,
efficient, and cost-effective."
About GlobeTax
GlobeTax is the leading provider of tax recovery services, helping
financial institutions, asset managers, and investors reclaim
over-withheld taxes on cross-border investment income. Processing
over 12 million claims per year, GlobeTax annually returns in
excess of $2.5 billion to the
marketplace. Founded in 1992, the firm is headquartered in New
York City. For more information, visit www.globetax.com.
About BetaNXT
BetaNXT powers the future of connected
wealth management infrastructure solutions, leveraging real-time
data capabilities to enhance the wealth advisor experience. We
leverage our industry expertise to solve our customers' most
demanding data and integration challenges with flexible, efficient,
connected solutions that anticipate their changing needs. Our
comprehensive approach reduces enterprise costs, streamlines
operations processes, increases advisor productivity, and enhances
the investor experience. Together with BetaNXT, wealth management
firms are transforming their platforms into differentiating assets
that enable enterprise scale and stimulate commercial growth. For
more information visit www.betanxt.com.
Media Contacts:
Laura Marvin
Simkins
JConnelly for BetaNXT
(973) 349-2959
betanxt@jconnelly.com
Alexis Obernauer
GlobeTax
(212) 747-9100
info@globetax.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/globetax-and-betanxt-begin-strategic-collaboration-to-expand-accessibility-to-efficient-tax-recovery-services-302243399.html
SOURCE BetaNXT