"ADP is an industry leader in prospectus delivery, providing this service to over 140 brokerage clients," says Gerard Scavelli, Senior Vice President, ADP ICS. "NewRiver’s Prospectus Express has become an industry standard for compliance and investor communications for the fast-growing on-line investment business, shaving millions of dollars from brokerage firms’ yearly distribution costs and offering new ways to delight investors. We view NewRiver’s Prospectus Express as an important element in maintaining ADP’s leading edge in investor communications and electronic servicing."
"This alliance is a milestone for the brokerage community," said Larry Renfro, Chairman and CEO of NewRiver. "When coupled with ADP’s fast growing database of delivery preferences for 2.3 million investors, NewRiver’s Prospectus Express will provide a complete suite of electronic and print-on-demand services that will support financial managers in providing their customers with World Class Service."
NewRiver, whose e-services are the backbone of more than 23 million online investment accounts, recently launched Prospectus Express, Intelligent Delivery Service. The fulfillment service equips brokerage firms with an electronic database of investor information and print-on-demand (POD) capabilities—enabling them to print and e-mail annual reports, prospectuses and similar information from the database on an "as needed" and customized basis, or to deliver all information electronically. Companies adopting the service deliver investor information from an XML based database sourced directly from the Securities and Exchange Commission’s (SEC) EDGAR database.
ADP will integrate Prospectus Express into its suite of products offered to the brokerage community. "These services are only the beginning," noted Renfro. "Both ADP and NewRiver are known for their in-depth financial industry focus and solid market penetration. The synergies between the two companies are promising, and we plan to leverage them for the continued benefit of our brokerage clients."