Broadridge Financial Solutions has acquired Financial Database Services, a provider of compensation management, compliance and adviser onboarding solutions for the wealth management industry. Broadridge says the acquisition expands its adviser compensation management capabilities and underscores its commitment to bringing value-added technology solutions to the wealth management industry.
“The acquisition of Financial Database Services is the latest example of Broadridge expanding our wealth capabilities and growing our client base,” says Michael Alexander, head of North American wealth and capital markets solutions for Broadridge. “Compensation management and compliance are key industry areas in need to transformation, and we look forward to extending our industry leading capabilities.”
Financial Database Services provides a modular suite of compensation and compliance tools, including adviser onboarding and analytics solutions. With the SEC’s recently adopted Regulation Best Interest rule, Broadridge says, adding Financial Database Services’ solutions strengthen its position to help clients with adoption and compliance.