Broadridge Financial Solutions has acquired M&O Systems, a provider of advisor compensation management solutions, for an undisclosed sum.

New York-based M&O will now be rebranded as Broadridge Advisor Compensation Solutions.

Broadridge expects the acquisition to expand its wealth offerings to include advisor compensation and incentive management, advisor commission portal, account opening and client books and records solutions.

M&O will also expand its DOL Fiduciary Rule solutions suite, which helps firms make investment recommendations, produce, distribute and disclose documents, and monitor compensation levels, Broadridge added.

Broadridge president, global technology and operations Charlie Marchesani said: "The acquisition of M&O adds best-in-class, back-office agnostic compensation management solutions to Broadridge's market-leading product set.

"As a result, Broadridge can now offer broker-dealers and wealth management firms a more complete suite of front- and back-office solutions ranging from advisor marketing and practice management capabilities to mission-critical brokerage investment platforms."

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