LAKE SUCCESS, N.Y., July 26, 2016 – Broadridge Financial Solutions, Inc. (NYSE:BR) has signed an agreement with SEI (NASDAQ: SEIC) that will provide SEI private banking clients access to Broadridge’s global securities class action services.
Through the new strategic partnership, SEI private banking clients can elect to utilize Broadridge’s services, which will monitor securities class action lawsuit settlements worldwide to spot opportunities to help recover funds for SEI clients and their customers. Broadridge’s solution includes case and settlement research, class action notifications and distribution, loss calculation, completion and submission of claims forms, collection of payments, and associated recordkeeping and reporting.
“The securities class action space has become more complex and the need for an efficient, scalable and reliable provider with a proven track record is more important than ever,” said Sandy Ewing, senior vice president, TRUST 3000, SEI Private Banking. “Broadridge has been a trusted partner for over 20 years. Global securities class action services is another example of Broadridge leading the industry with technology, service, and expertise that will ensure the highest level of satisfaction for the end-customer.”
“Securities class actions are an increasing area of focus for sophisticated investors, with billions of dollars in settlements that go unclaimed each year. We are pleased to offer SEI private banking clients the opportunity to efficiently and effectively manage the research, filing and recovery process,” said Joseph Vicari, vice president of business development, Broadridge.
This new strategic partnership is an expansion of the proxy voting, corporate actions, first-dollar-in prospectus fulfillment and master-limited partnership tax reporting solutions Broadridge has provided to SEI and its clients for over 20 years. Effective immediately, SEI private banking clients will be able to select Broadridge as their provider of global securities class actions filing and recovery services.
About Broadridge
Broadridge Financial Solutions (NYSE: BR) is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.
Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.
For more information about us, please visit www.broadridge.com.
About SEI
SEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of March 31, 2016, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $684 billion in mutual fund and pooled or separately managed assets, including $265 billion in assets under management and $419 billion in client assets under administration. For more information, visit seic.com.