Broadridge targets the “advisor distribution riddle” in latest acquisition

The global fintech provider has snapped up an advisor intent data provider to help asset managers sharpen their digital marketing.

Broadridge, the global fintech leader, is looking to help asset managers fine-tune their advisor sales and engagement efforts with its latest acquisition.

Broadridge Financial Solutions announced it has acquired AdvisorTarget, a firm specializing in data products for asset managers and wealth firms to help digital marketing, sales and engagement programs aimed at advisors.

By combining AdvisorTarget’s advisor intent data with Broadridge’s own asset holding insights, this move aims to enhance the wealth tech giant’s ability to offer targeted online marketing and sales strategies.

“[T]his acquisition … pairs AdvisorTarget’s advisor behavioral data with Broadridge’s insights on asset holdings to unleash a new level of precision for asset managers,” Dan Cwenar, head of data and analytics at Broadridge, said in a statement.

With a team of industry experts, Broadridge is known for providing asset managers with insights and advisory solutions through data derived from proprietary business processes.

Meanwhile, AdvisorTarget’s expertise lies in collecting advisor behavioral intent data to help asset managers identify new advisor relationships where purchase intent aligns with product strengths.

With more fully integrated and data driven sales and marketing, Cwenar expects asset managers on Broadridge’s platform will “achieve sales efficiencies, improve customer experiences, and enhance sales and revenue opportunities.”

Having a more comprehensive view of advisor behaviors and asset holdings is important, he added, as rising distribution costs push digital marketing closer to the forefront.

“Not only will this acquisition turbo charge AdvisorTarget’s next phase of growth and perfectly integrate with Broadridge’s market-leading analytics offerings, but it will finally solve the advisor distribution riddle for our clients,” said Duncan MacDonald-Korth, founder and head of AdvisorTarget.

“Together, we look forward to creating new and exciting solutions to accelerate growth for asset and wealth managers,” he said.