The collaboration enables independent advisors
to deliver holistic advisory services across the full balance sheet
with integrated SBL capabilities to see the borrowing power for
portfolios.
NEW
YORK, Sept. 15, 2024 /PRNewswire/ -- Global
fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR)
announces the securities-based lending (SBL) tools in its Wealth
Lending Network (WLN) marketplace are now integrated in Morningstar
Advisor Workstation. Extending beyond Workstation's core research,
investment planning, and portfolio analysis capabilities,
independent advisors now have seamless access to lending solutions
that help them support broader client financial goals.
The integration offers financial advisors the ability to
determine their clients' SBL borrowing potential and connect with
WLN partner banks to support their clients' lending needs. Advisor
Workstation's U.S. footprint of more than 150,000 advisors will now
be offered the opportunity to seamlessly connect to SBL services
from Broadridge through their single sign on, as well as to access
Broadridge's advanced predictive prospecting, sales and educational
capabilities via the Wealth Lending Network platform.
"Today's advisors recognize the importance of offering expanded
services to add value for their clients. As highlighted in
Morningstar's 2024 Voice of the Advisor Survey, advisors who
offered a broader range of services were more confident in their
ability to support their client with meaningful financial plans"
said Vimal Vel, chief product
officer for Enterprise Solutions at Morningstar. "Our collaboration
with Broadridge equips advisors with a tool for advanced lending
options, enabling them to provide a more comprehensive suite of
services and elevate the industry standard for the value advisors
offer clients."
"Our mission at Broadridge is to provide trusted expertise and
transformative technology to help clients and the financial
services industry operate, innovate, and grow," said Mike Alexander, President of Broadridge Wealth
Management. "This collaboration helps advisors respond to the
growing demand for flexible, simplified, and integrated financial
solutions, including borrowing against their securities portfolio,
allowing them to better align with their clients' evolving goals,
and provide expanded service offerings that strengthen their client
relationships."
The WLN enables wealth managers of all sizes to offer SBL
services to their clients using Broadridge's end-to-end, fully
digitized SBL technology platform. It extends current lending
models, enabling financial institutions to offer SBL to clients on
a turnkey basis. Serving RIAs, independent broker-dealers, non-bank
affiliated broker dealers, and wealth management firms, the WLN
will allow advisors using the Morningstar Advisor Workstation to
retain AUM when client liquidity needs arise, reduce competitive
risk from wire houses and banks, and offer holistic advice to their
clients.
Clients of financial advisors using WLN and Morningstar Advisor
Workstation are expected to directly benefit from having an
alternative to liquidating investment portfolios. This can help
them to preserve their investment strategy, avoid triggering
potential capital gains taxes associated with selling investments,
and enjoy the convenience of a single provider for both assets and
liabilities. They also gain the flexibility of an evergreen credit
facility for ongoing financial needs.
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 underpin the daily
trading of more than $10 trillion of
equities, fixed income and other 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 Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent
investment insights in North
America, Europe,
Australia, and Asia. The Company offers an extensive line of
products and solutions that serve a wide range of market
participants, including individual and institutional investors in
public and private capital markets, financial advisors and wealth
managers, asset managers, retirement plan providers and sponsors,
and issuers of fixed-income securities. Morningstar provides data
and research insights on a wide range of investment offerings,
including managed investment products, publicly listed companies,
private capital markets, debt securities, and real-time global
market data. Morningstar also offers investment management services
through its investment advisory subsidiaries, with approximately
$316 billion in AUMA as of
June 30, 2024. The Company operates
through wholly-owned subsidiaries in 32 countries. For more
information, visit www.morningstar.com/company. Follow
Morningstar on X (formerly known as Twitter) @MorningstarInc.
Media Contacts:
Broadridge:
Matthew
Luongo
Prosek Partners
+1 646-818-9279
mluongo@prosek.com
Morningstar:
Michael
Claussen
+1 312 696-6037
newsroom@morningstar.com
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SOURCE Broadridge Financial Solutions, Inc.