Broadridge Financial Solutions has acquired Emerald Connect from StoneRiver Group for US$60 million in cash, excluding adjustments for net working capital acquired.

Emerald Connect’s website solutions, as well as its customized branding, marketing, retention and client communication tools will be integrated with Broadridge’s existing Forefield suite of sales, education and client communications capabilities to create the industry’s leading financial advisor client communications solution.

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Broadridge’s enhanced offering enables financial advisors to grow their businesses more efficiently by providing a comprehensive solution encompassing branding, prospecting and client service needs.

Robert Schifellite, president, Investor Communication Solutions (ICS), Broadridge, said: "The Emerald Connect and Forefield solutions create a unique and robust combination of marketing and communications tools at a time when the number of independent advisors is on the rise. Our consolidated offering will reach nearly 100,000 advisors and uniquely positions Broadridge to deliver additional practice management and productivity tools to these financial professionals."

Broadridge provides a range of solutions to the advisor market including advisor websites, educational content and delivery, marketing communications, client on-boarding, retirement plan solutions, performance reporting, and aggregation of held-away assets.

Paul Peterson, president, Emerald Connect, said: "We’re very excited to become part of Broadridge and to be a key contributor in the expansion of their advisor-facing product strategy. We look forward to driving this growth as we bring our platforms together to create a unique marketing and communications solution."

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Andrew Besheer, president, Customer Communications, a unit within Broadridge’s ICS business segment, said: "Our acquisition of Forefield more than three years ago proved to be a successful expansion into the advisor market. Forefield’s educational content and delivery expertise, together with Emerald Connect’s market-leading websites and other marketing tools will provide a unified resource enabling advisors to truly differentiate themselves as they grow their businesses."

Mr. Besheer will be responsible for the consolidated businesses.

Emerald Connect, LLC, with offices in San Diego, and Duluth, Minn., employs more than 120 people.