Broadridge Partners with Apex Silver to Enhance Tax Experience for Financial Services Industry

US-based global Fintech leader Broadridge Financial Solutions, Inc. (Broadridge) has joined force with Apex Silver, a provider of enterprise-class SaaS solutions and a subsidiary of Apex Fintech Solutions, to provide the financial services industry with seamlessly integrated cost basis processing and tax information reporting. 

The partnership will provide wealth managers with more tightly integrated offering, which will help reduce the overall cost of ownership and improving the overall tax experience for customers. Under the collaboration, the firms will introduce a common data sourcing and management model making integrations seamless while providing greater flexibility and scale.

Thomas Burke, President of Tax Services at Broadridge, said: "This collaboration provides a complete reporting solution for complex transaction processing addressing both cost basis and tax treatment. Broadridge has long provided tax data and information reporting solutions. What's new is that by working with Apex Silver, we are bringing to market an integrated one-stop reporting solution; that supports compliance with changing tax regulations, new asset classes such as crypto, and which scales rapidly in line with higher transaction volumes."

Blake Henry, CEO of Apex Silver, said: "Apex Silver offers state-of-the-art cost basis reporting solutions with a focus on delivering industry-leading operational efficiencies and superior client experiences. Our cloud-based, API-driven cost basis offering supports tens of millions of investment accounts and multiple Tier 1 financial institutions, including several firms that are also Broadridge tax information reporting clients. We look forward to working on this exciting initiative together."

Broadridge has been expanding its technical collaborations with more companies. Last week, Broadridge entered into a strategic partnership with CQG​, a leading global provider of high-performance technology solutions for market makers, traders, brokers, commercial hedgers and exchanges, to better serve institutional customers who wish to take advantage of a full front-, middle- and back-office technology suite. In January, the company also partnered with FLX Networks​, a specializes in engagement for asset and wealth management firms and financial advisors, to provider better data and analytics service to asset management firms.