Broadridge to Expand Fiduciary and Reg BI Solutions for Wealth and Retirement Industry with Acquisition of Fi360

New York - 10 October 2019

New solutions will enable wealth advisors and intermediaries to grow their businesses while increasing fiduciary oversight. Suite also grows Broadridge's data and analytics capabilities for asset managers.


NEW YORK, Oct. 10, 2019 – Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and part of the S&P 500® Index, has entered into a purchase agreement to acquire Fi360, Inc. Fi360 is a leading provider of fiduciary-focused software, data and analytics for financial advisors and intermediaries across the retirement and wealth ecosystem. Fi360 also provides the accreditation and continuing education for the Accredited Investment Fiduciary® (AIF®) Designation, the leading designation focused on fiduciary responsibility.


Broadridge’s acquisition of Fi360 will enhance its existing retirement solutions by providing wealth and retirement advisors with fiduciary tools that complement its Matrix trust and trading platform. The acquisition will also further strengthen Broadridge’s data and analytics tools and solutions suite that enable asset managers to grow their businesses by providing greater transparency into the retirement market.


“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,” said Michael Liberatore, head of Broadridge’s Mutual Fund and Retirement Solutions business. “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.”


“We’re delighted to become part of Broadridge. Leveraging Broadridge’s scalable technology and position within the financial services network will enable us to offer the best possible solutions to help clients provide a fiduciary standard of care,” said Fi360 CEO Bill Mueller.


Fi360 supports industry needs through analytical and reporting software that helps investment professionals document investment processes and evaluate products. Fi360’s analytics products enable broker-dealers to automate compliance procedures and identify at-risk assets. Its online and in-classroom training and ongoing annual designations empower retirement, wealth and other investment professionals to serve their clients’ best interests. Fi360 has awarded the AIF® Designation to over 11,000 advisors since 2003, helping them win and retain plan business.


The acquisition is subject to the satisfaction of customary closing conditions, including regulatory approvals, and is expected to close in November. Raymond James & Associates is acting as financial advisor to Fi360 in the transaction. Terms of the transaction were not disclosed.

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