Broadridge Partners with Wealthsimple To Enter the Robo-Advisory Market

LAKE SUCCESS, N.Y. and TORONTO, ON - December 5, 2017— Broadridge Financial Solutions, Inc. (NYSE:BR) today announced a partnership with Wealthsimple, the leading digital investing service in Canada. Working with Wealthsimple, Broadridge will offer sophisticated, user-friendly, automated investment management to support both advisor-investor and direct-to-investor models. .

Broadridge’s capabilities, integrated with Wealthsimple’s technology platform, will enable firms to drive efficiencies in client onboarding, compliance, and account transfers. Additionally, they gain access to in-demand functionality such as automated investment management, mobile access, and lower-cost ways to invest.

“With this new partnership, clients will be able to leverage highly customizable technology to target new customer segments – allowing them to get ahead of today’s challenges and capitalize on what’s next,” said Michael Dignam, president, Broadridge Canadian Securities Processing Solutions. “Our wealth solutions have the unique capacity to support both securities and mutual fund dealers, on a single platform, even though they are separately regulated entities in Canada.”

Wealthsimple's intuitive website and mobile app have quickly made it popular with individual investors; in just three years, the award-winning company has grown to manage over $1 billion for 50,000 clients in Canada, the U.S., and the U.K. For its enterprise partners, Wealthsimple builds customized solutions through a dedicated account team, offering real control over the product roadmap and development prioritization.

Broadridge’s initial focus will be Canada, and will include integration with Broadridge’s wealth solutions. Deep integration of Wealthsimple’s technology into Broadridge’s will allow for a unique single view of all assets, passive and active, from both the advisor and customer point of view.

“With Broadridge as our partner, we can reach more investors, furthering our mission to bring smarter financial services to advisors and investors,” said Michael Katchen, CEO and co-founder, Wealthsimple. “We've always believed strongly that combining human advice with great technology delivers the best experience and outcomes to investors. Through this integration, clients will be able to retain their relationships with their advisors while gaining access to a great technology experience."