Broadridge Financial Solutions said it acquired Forefield, Inc., in an effort to expand its business in electronic communications with investors.
Forefield is a supplier to financial institutions and advisers of real-time sales, education, and client communication systems. The purchase price is $19.5 million. Forefield's web-based technology enables financial advisors to deliver current and concise educational and marketing materials to their clients. Broadridge clients will get access to more than 3,000 pieces of financial planning content including articles and client presentations, monthly and weekly newsletters, time sensitive flash videos, seminars, and interactive calculators designed to help investors make informed decisions about their financial future.
The presentations are continuously updated to reflect current legislation and industry trends and are written to satisfy Financial Industry Regulatory Authority requirements. Last year, more than 60,000 financial advisors at 145 enterprises used Forefield content, Broadridge said. Forefield's content and tools will be integrated with Broadridge's network for processing information needed by issuers, investors and financial intermediaries for proxy services and securities trasactions. The combination "enables Broadridge to provide a single access point through which financial institutions and their advisors can manage the full range of materials they need to serve their clients," said Doug DeSchutter, president, Customer Communications, Broadridge.
Broadridge said it expects a return on investment in excess of 20 percent.
Broadridge's infrastructure provides proxy services for 90 percent of public companies and mutual funds in North America and processes more than $3 trillion in fixed income and equity trades per day.