US-based Broadridge Financial Solutions (NYSE: BR), a tech solutions provider, revealed on Monday (June 14, 2021) that it has managed to acquire AdvisorStream, a leading provider of digital engagement and marketing solutions for the international wealth and insurance sectors.
The terms of the transaction have not been shared publicly.
The acquisition will aim to further expand Broadridge‘s existing front-to-back office wealth management services, positioning the Fintech to better address growth-oriented advisors and companies planning to attract and engage prospects and customers across a wide range of digital channels.
AdvisorStream’s advisor marketing solution allows financial advisors to support revenue and growth by offering customized and consistent customer communications.
The platform leverages powerful marketing automation capabilities along with deeply engaging content licensed from international sources such as Dow Jones Newswires (including The Wall Street Journal and Barron’s), The New York Times, Forbes, Bloomberg Media, The Globe & Mail, among several others.
Broadridge’s wide and diverse data foundation, along with AdvisorStream, should help with empowering financial advisors to identify what’s most relevant and engaging for individual prospects and customers at every step of the investor lifecycle.
Advisors may drive additional revenue and consistent growth by offering each investor with the right communication, at the right time, and also in the manner that’s most relevant or meaningful to their requirements.
Additionally, AdvisorStream’s compliance capabilities offer flexibility for wealth advisors while being able to seamlessly integrate into existing head office marketing workflows.
Michael Alexander, President of Wealth Management at Broadridge, stated:
“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.”