Broadridge Announces Acquisition of Advisor Behavior Data Firm AdvisorTarget

Shortly after acquiring a transaction processing platform​ for the securities brokerage industry in Canada, from IT infrastructure services provider Kyndryl, the global Fintech leader Broadridge Financial Solutions, Inc. (Broadridge) announced on Thursday (May 30) that it has acquired AdvisorTarget, a market leader in providing asset management and wealth management firms with data products to help power digital marketing, sales and engagement programs targeting financial advisors.

Broadridge leverages a combination of quantitative and qualitative data sets, along with insights from its expert team, to offer asset managers the necessary insights for enhancing strategic operations, optimizing resource allocation, and fueling accelerated growth. In parallel, AdvisorTarget harnesses advisor behavioral intent data to assist asset managers in effectively aligning products with advisor needs.

In this transaction, AdvisorTarget's advisor insights will be integrated with Broadridge's existing data and analytics suite. This collaboration will empower asset managers to more effectively target advisors and drive their growth strategies forward.

Dan Cwenar, Head of Data and Analytics at Broadridge, commented: "The combined capability this acquisition creates is unique, as it pairs AdvisorTarget's advisor behavioral data with Broadridge's insights on asset holdings to unleash a new level of precision for asset managers, making sales efforts laser-targeted at interested buyers. Our clients will benefit from a more fully integrated, data-driven, digital marketing and sales offering to achieve sales efficiencies, improve customer experiences, and enhance sales and revenue opportunities. With growing pressure on distribution costs, digital marketing programs have taken on a larger role to help asset managers and others improve engagement with advisors and identify stronger opportunities."

Duncan MacDonald-Korth, Founder and Head of AdvisorTarget, commented: "The ultimate end-state for asset managers distributing products through intermediaries has always been the seamless fusion of advisor intent and asset holdings. Not only will this acquisition turbo charge AdvisorTarget's next phase of growth and perfectly integrate with Broadridge's market-leading analytics offerings, but it will finally solve the advisor distribution riddle for our clients. Together, we look forward to creating new and exciting solutions to accelerate growth for asset and wealth managers."