Broadridge acquires AdvisorStream to enhance engagement and marketing solutions

Rick Steves

The events of 2020 have transformed the nature of advisor and client collaboration and communications.

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Broadridge has acquired AdvisorStream in order to position the firm to serve growth-oriented advisors and firms looking to attract and engage prospects and clients across key digital channels.

The digital engagement and marketing solutions provider helps advisors to drive revenue and growth by providing personalized and consistent client communications.

The platform combines powerful marketing automation with highly engaging content licensed from global sources like Dow Jones Newswires (including The Wall Street Journal and Barron’s), The New York Times, Forbes, Bloomberg Media, The Globe & Mail, and many others.

Adding AdvisorStream to Broadridge’s already broad data foundation will empower financial advisors to pinpoint what is most relevant and engaging for individual prospects and clients at each step of the investor lifecycle.

AdvisorStream’s robust compliance capabilities also provide flexibility for advisors while still easily integrating into existing head office marketing workflows.

Michael Alexander, President of Wealth Management at Broadridge, said: “The events of 2020 have transformed the nature of advisor and client collaboration and communications. They have also heightened overall investor expectations for personalized and relevant communications from their advisor.

“AdvisorStream’s platform provides the most effective means for advisors to engage, convert and nurture relationships by leveraging highly credible content across digital channels. The acquisition of AdvisorStream is the latest example of Broadridge growing our wealth management business by expanding our core offerings for clients.”

Kevin Mulhern, CEO of AdvisorStream, commented: “When we created AdvisorStream, we set out to help advisors grow by solving the challenge of connecting with clients, building trust and credibility by leveraging technology for better communications. Becoming part of Broadridge will allow us to deliver our advisor solutions to a broader client set and enhance the effectiveness of our platform as we bring a premium omni-channel solution to wealth firms and advisors of all stripes globally.”

Broadridge has recently enhanced its Private Market Hub with blockchain technology from AWS. The many challenges faced by private market participants, such as disconnected communication and back-office reconciliation, were solved by the newest version of the platform using distributed ledger.

Broadridge Financial Solutions has recently completed the acquisition of Itiviti in a $2.5 billion deal.

Itiviti will now be part of Broadridge’s Global Technology and Operations segment. Its senior management team, including its CEO, will continue to remain in the company to help drive the future expansion and growth of the company.

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