Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR) announced today that it has acquired AdvisorTarget, a market leader in providing data products to asset and wealth management firms to power digital marketing, sales and engagement programs targeting financial advisors.
Adding AdvisorTarget’s unique advisor knowledge to Broadridge’s existing suite of data and analytics will enable asset managers to better target advisors and drive their growth strategies.
“The combined capability this acquisition creates is unique, combining AdvisorTarget’s advisor behavioral data with Broadridge’s insights into asset holdings to unlock a new level of precision for asset managers, making sales efforts laser-targeted to interested buyers,” said Dan Cwenar, head. Data and Analytics at Broadridge. “Our customers will benefit from a more comprehensive, data-driven, digital marketing and sales offering to drive sales efficiency, enhance customer experiences, and improve sales and revenue opportunities. With increasing pressure on distribution costs, digital marketing programs have taken on a greater role in helping asset managers and others improve engagement with advisors and identify stronger opportunities.”
“The ultimate end state for asset managers distributing products through intermediaries has always been the seamless merging of advisor intent and asset holdings,” said Duncan MacDonald-Korth, Founder and Continuing Head of AdvisorTarget. “Not only will this turbo-charge the next phase of AdvisorTarget’s growth and integrate perfectly with Broadridge’s market-leading analytics offerings, it will finally solve the puzzle of advisor distribution for our clients. Together, we look forward to creating new and exciting solutions to accelerate growth for asset and wealth managers.”
AdvisorTarget collects advisor behavioral intent data and helps asset managers identify new advisor relationships where purchase intent aligns with product strengths.
DC Advisory served as the exclusive financial advisor to Broadridge. Broadhaven Capital Partners served as the exclusive financial advisor to AdvisorTarget.