Broadridge Financial Solutions has selected UBS Wealth Management USA as the anchor client for its new wealth management industry platform.
Broadridge wealth platform is a next-generation open platform designed to address major financial services challenge by creating an advanced wealth management technology solution.
The platform allows wealth managers to take their business to the next level while mutualizing investments in technology, innovation and security.
Via Broadridge wealth platform, UBS can deploy an integrated and advanced front-to-back office solution, which optimizes financial advisor productivity.
The open solution will allow UBS to offer better value to its advisors and share the cost of adapting to ongoing technology innovation, regulatory and industry change, and cyber security requirements.
Broadridge president and COO Tim Gokey said: “Working with UBS, the largest global wealth manager, is a major milestone in creating the wealth management industry platform of the future.
“The Broadridge Wealth Platform will create a new industry business model by enhancing the advisor and client experience while mutualizing key front-, middle- and back-office functions.”
Broadridge wealth platform has been specifically developed to create efficiencies and revenue opportunities for advisors and enterprise.
The new platform includes a modernized advisor desktop and customizable tool set, while crucial advisory features will comprise performance reporting, managed accounts support and sleeve accounting.
The advisory features also include multi-market order management and trade routing, full back-office functionality that deals with multi-currency, global clearance and settlement, asset servicing and integrated workflow across the entire enterprise to enhance client on-boarding and other key service tasks.
Broadridge wealth platform is compatible with a comprehensive, real-time data fabric and API structure, providing seamless connectivity to UBS’s proprietary and third-party applications.
UBS Americas president and UBS Global Wealth Management co-president Tom Naratil said: “Broadridge is the right partner and the only Fintech leader with the proven technology, scale and experience to deliver such a transformational solution.”
UBS offers financial advice and solutions to wealthy, institutional and corporate clients, while Broadridge provides investor communications and technology-driven solutions to banks, broker-dealers, asset managers and corporate issuers.