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Rating:Broadridge Helps Schwab Enhance OneSource Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 21, 2011

Broadridge Helps Schwab Enhance OneSource

Reported by Neil Anderson, Managing Editor

Broadridge just unveiled a new partnership with Charles Schwab. Today Lake Success, New York-based back office specialist revealed that its subsidiary Access Data will power a new technology to amp up the data analytic and sales reporting side of Schwab's OneSource and Mutual Fund Marketplace platforms.

Doug Hanson, the Schwab vice president in charge of third party mutual fund platforms, confided that Schwab had been in talks with Access Data prior to Broadridge's acquisition of Access Data in 2009. According to Hanson, that deal sped up the partnership, as Schwab already had a "working infrastructure" in place with Broadridge.

"Schwab has Broadridge doing a lot of client fulfillment," Hanson told MFWire.com, noting that that work requires "daily interaction" between the two firms to ensure that clients get the right documentation. "We felt lik it was really time to upgrade those reporting capabilities."


Company Press Release

LAKE SUCCESS, N.Y., Sept. 21, 2011 -- Broadridge Financial Solutions, Inc. (NYSE: BR) announced today that Charles Schwab (NYSE: SCHW) has partnered with Access Data, a Broadridge Company, to be the sole provider of a new technology portal that will significantly expand upon the sales reporting and data analytic capabilities Schwab currently provides to more than 600 mutual fund sponsors on its Schwab Mutual Fund OneSourceŽ and Mutual Fund MarketplaceŽ platforms. This portal will provide unprecedented access to fund asset, trading and sales information. The partnership also allows Broadridge to continue to showcase its best-in-class servicing capabilities in the mutual fund arena.

With the new portal, funds on the Schwab OneSource and Marketplace platforms will have timely access and enhanced visibility into sales across products, as well as a deeper understanding of the Advisor - including the fast growing RIA Channel - Trust, Retail and Retirement Channels. This increased level of transparency will provide mutual funds with deeper insight into channels, products and the advisors driving their business growth.

"Broadridge acts as a trusted partner and industry information hub between asset managers and intermediaries," stated Doug Hanson, Vice President overseeing third party mutual fund platforms at Charles Schwab. "We are pleased that we will be able to draw on its enterprise reporting and data management capabilities through Access Data to deliver broader, deeper and more timely sales and asset intelligence to our OneSource and Marketplace funds."

"This collaboration is a cutting edge approach by two financial service leaders to benefit the mutual fund industry by providing solutions beyond standard data delivery," stated Gerard Scavelli, President, Mutual Fund Solutions, Broadridge. "Current Access Data SalesVision clients will immediately benefit from increased transparency and seamless integration with the SalesVision enterprise reporting solutions. Broadridge will continue to build innovative offerings to benefit the industry," concluded Scavelli.

This offering is the second partnership announced between Charles Schwab and Broadridge in the last two months. See press release.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 300 offices and 8.2 million client brokerage accounts, 1.5 million corporate retirement plan participants, 765,000 banking accounts, and $1.65 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and mortgage services and products. More information is available at www.schwab.com and www.aboutschwab.com.

About Broadridge

Broadridge is a technology services company focused on global capital markets. Broadridge is the market leader enabling secure and accurate processing of information for communications and securities transactions among issuers, investors and financial intermediaries. Broadridge builds the infrastructure that underpins proxy services for over 90% of public companies and mutual funds in North America; processes more than $4 trillion in fixed income and equity trades per day; and saves companies billions annually through its technology solutions. For more information about Broadridge, please visit www.broadridge.com.

About Access Data

Access Data Corp., a Broadridge Company, is a leader in enterprise data management, analysis and reporting for the financial services industry. Today over 60 leading asset management firms and financial intermediaries utilize Access Data's proprietary technology and services to gain visibility into how sales and assets are generated and address a myriad of challenges in distribution, compensation management and compliance and risk management. Access Data's flagship product, Access Data SalesVisionŽ provides comprehensive storage and analysis solutions, delivering web-based reporting as Software as a Service. 

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