Under the strategic partnership, Broadridge’s data aggregation solution will be integrated with MX’s money management tools and automated financial health inputs.
The integrated solution will be available on Broadridge’s wealth platform, noted the firm.
It will help financial advisors to have a comprehensive view of an investor’s financial performance.
The advisors will have access to data regarding their customers’ assets and liabilities. They will also be able to offer specific suggestions that will help their clients’ long-term financial goals.
In addition, the partnership will help Broadridge to improve its enterprise capabilities and provide tailor-made financial inputs to its customers.
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Broadridge president of wealth management Mike Alexander said: “Investors today have an unprecedented level of control over their assets, but the current market environment has reminded us that it is still beneficial to have access to the personal touch of an advisor.
“Through this strategic partnership with MX, we are ensuring that the advisor’s touch is not just personal, but also timely and driven by intelligence and data.
“By combining Broadridge’s expertise in investment data with MX’s deep understanding of frictionless money experiences, our financial advisor clients will now have access to a new comprehensive offering that provides a more personal and holistic view to financial planning.” In February this year, Broadridge announced a partnership with Australian wealth management infrastructure provider FinClear to further grow the latter’s securities finance business.