Broadridge Financial Solutions has entered a purchase agreement for Fi360, a fiduciary-focused software, data and analytics solution for financial advisors and intermediaries.
By acquiring Fi360, Broadridge will be able to enhance its existing retirement solutions by adding wealth and retirement advisors with fiduciary tools which bolster its trust and trading service. Furthermore, it will strengthen its data and analytics tools and solutions which help bring transparency into the retirement space.
Fi360 gives investment professionals analytical and reporting software which helps the document investment process and product evaluation. Its analytics services automate compliance processes and identifies at-risk assets.
The services also offer the accreditation and education for the Accredited Investment Fiduciary (AIF) Designation.
Head of Broadridge’s mutual fund and retirement solutions business Michael Liberatore said, “The shift to fee-based advice and imminent regulatory changes, including the SEC’s Regulation Best Interest, are increasing the scrutiny on firms to ensure that they are demonstrating prudent advisory practices.
“Our goal is to help firms stay ahead of this evolving regulatory landscape. Integrating Fi360’s solutions set with Broadridge’s leading wealth and retirement solutions will enable better support for clients as they build and maintain responsible fiduciary practices.”
Broadridge offers asset and wealth managers with a selection of tools to improve their portfolio management.
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