Money Concepts taps Broadridge’s Data Aggregation and Financial Reporting solution

Rick Steves

“In a seamless and relatively quick process, we were able to shift away from legacy technology and transfer five years’ worth of historical transactions without any delays or resistance of change from advisors typically inherent in an aggregation conversion.”

Money Concepts Capital Corp. has tapped Broadridge Financial Solutions, Inc. to enhance its data management technology with its data aggregation, reporting, and analytics solution.

The wealth management platform deployed Broadridge’s Wealth Data Aggregation and Financial Reporting to provide its advisors with a holistic view of each client’s holdings and activity across thousands of sources, gleaning insights that will enable better decision-making and the provision of hyper-personalized services.

Money Concepts is a privately owned independent broker-dealer and dually registered as a Registered Investment Advisor based in Palm Beach Gardens, FL. Its parent company Money Concepts International, Inc. has a network of approximately 700 financial professional centers nationwide.

The company also provides turn-key wealth management services for community banks, credit unions, and tax professionals. Its advisors provide holistic planning and offer a full array of non-proprietary products and services including advisory and alternative investment services.

Broadridge’s Data Aggregation and Financial Reporting for wealth management firms

Broadridge’s Data Aggregation and Financial Reporting is a multi-product technology and data solution that benefits wealth management firms by consolidating information about client assets under management, cash balances, positions, transactions, spending, and more from thousands of sources, including banks.

The aggregated data enables advisors to provide their clients with household-level reports and use prescriptive insights that adjust based on user feedback and peer comparison financial scoring. Recent solution enhancements have introduced new easy-to-use practice and book-level dashboards for business intelligence, financial wellness, and insights, providing a robust data platform for the future.

Broadridge Data Aggregation and Financial Reporting is part of the Broadridge Wealth suite of innovative, market-ready component solutions designed to deliver what’s top of mind for every wealth management firm: personalizing the investor experience, driving advisor revenue and productivity, digitizing enterprise operations, and delivering cost efficiencies.

Streamlining advisor and investor value chain

Denis Walsh, president and CEO of Money Concepts, said: “Our objective is to provide effective solutions for today while always maintaining a vision for the future needs of our professionals. Broadridge’s solution is enabling us to optimize advisor productivity and gain unique insights for client growth and transformation. In a seamless and relatively quick process, we were able to shift away from legacy technology and transfer five years’ worth of historical transactions without any delays or resistance of change from advisors typically inherent in an aggregation conversion.”

Mike Alexander, president of Wealth Management at Broadridge, commented: “As validated in Broadridge’s latest Digital Transformation Study, wealth management firms are accelerating their digital transformation efforts, and it’s more important than ever for wealth management firms to modernize their technology stacks to meet the changing needs of advisors and investors. We’re pleased that Money Concepts has chosen Broadridge’s solution to transform their data management, enabling them to keep pace with current technology, provide the personalization needed to meet growing investor expectations, and support the digitization and streamlining of their advisor and investor value chain.”

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