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Liz is HR Technology and Services Research Director at NelsonHall, with global responsibility for key HR research projects including Cloud-Based HR Transformation, Cloud-Based Benefits Services, HCM Technology, EoR, Global Payroll and The Future of HR, as part of NelsonHall's wider HR Technology & Services practice.
meet & followNikki is a Principal Research Analyst at NelsonHall and a member of the HR Technology & Services practice. Nikki covers HR services research in the areas of Recruitment Process Outsourcing (RPO), Managed Service Programs (MSP), Total Talent, and Learning.
meet & followJeanine is a Principal Research Analyst at NelsonHall and a member of the HR Technology & Services practice. She has global responsibility for key HR areas including employer of record (EOR) and learning platforms.
meet & followDeeAnna is a Principal Research Analyst at NelsonHall and a member of the HR Technology & Services practice. She has global responsibility for key HR areas including HCM technology, workforce management, and health & welfare administration.
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Please visit NelsonHall's HRO Insight blog for further updates from our analysts daily
published on Jan 29, 2018
This NelsonHall assessment analyzes Broadridge's offerings and capabilities in W&A operations services. Broadridge is one of a number of W&A operations services companies analyzed in NelsonHall’s comprehensive industry analysis programs.
NelsonHall’s Next Generation Wealth and Asset (W&A) Management Operations Services Vendor Assessment for Broadridge is a comprehensive assessment of Broadridge’s Next Generation W&A services offerings and capabilities designed for:
The report provides a comprehensive and objective analysis of Broadridge’s W&A operations services offerings, capabilities, and market and financial strength, including:
Broadridge delivers three key sets of services to the W&A operations marketplace.
Broadridge began in the W&A BPO business in 2004, when it acquired a clearing business from Bank of America, to provide white label clearing and broker-dealer services to self-clearing brokers. The business grew rapidly from 2006 to 2010; however, because it operated as a correspondent clearing firm it required large amounts of capital. To free up the capital, Broadridge sold the business to Penson Financial Service. At the same time, Penson outsourced its processing services back to Broadridge. After the sale, Broadridge doubled its processing services, by providing Penson with BPO and technology services. Ultimately, Penson was sold to Apex, which remains a client of Broadridge BPO and provides Broadridge BPO with servicing business for 100 broker-dealers.
Broadridge began its asset management services business with the 2011 acquisition of Paladyne. Paladyne was a software vendor to hedge funds, asset managers, fund administrators, and prime brokers. It provided a comprehensive platform which included multi-asset class order and portfolio management tools; reference data, pricing and valuation management applications; and data warehousing for firm-wide data aggregation and reporting.
Broadridge began to productize its professional services offerings in 2014 to support its clients’ move towards the use of digital technologies in their environments. The growth of this set of offerings has been organic with the hiring of skilled employees. Technologists in this line of business also work on Broadridge’s proprietary software offerings.