Broadridge Financial Solutions has agreed to take over Morningstar’s 15(c) board consulting services business for an undisclosed sum.

The acquired entity offers mutual fund boards and executive teams materials to comply with 15(c) fiduciary norms and approve the fee agreements with their investment advisers.

The deal, expected to be wrapped up in January 2018, aims to make Broadridge the most complete source of independent data for mutual fund boards. The acquisition will enable Broadridge’s fund board clients to benchmark funds using Morningstar and Lipper data through an independent source.

Broadridge head of buy-side data and analytics Dan Cwenar said: “This acquisition will enhance and expand our solution set providing fund boards the most comprehensive data, enabling them to make more informed decisions with the highest standard of reporting.

“The expanded breadth and depth of our data-driven solutions will continue to enhance the value we provide to our investment management clients and set the standard for the financial services industry.”

Morningstar head of data and research products Scott Burns added: “With this transaction, Broadridge’s 15(c) consultants and client base can now utilise Morningstar’s industry-standard data and calculations to help fund boards fulfill their fiduciary responsibilities to shareholders.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.