Broadridge Financial Solutions reports developments across financial technology, investor communications, governance services, and capital markets operations. Company news commonly covers proxy voting and disclosure solutions, managed services, trading and post-trade technology, financial messaging, and platforms used by banks, broker-dealers, asset managers, wealth managers, and corporate issuers.
Recurring updates also include artificial intelligence in capital markets and wealth workflows, digital asset and tokenized securities infrastructure, LTX corporate bond trading activity, Distributed Ledger Repo, client migrations to the Broadridge Swift Service Bureau, acquisitions that expand trading capabilities, investor events, dividends, and debt financing actions.
Broadridge Financial Solutions (NYSE:BR) reported strong Q2 results for fiscal 2022, with total revenues increasing 19% to $1,260 million compared to the previous year. Recurring fee revenues also rose 19% to $798 million. However, operating income dipped 13% to $69 million, impacting margins, while diluted EPS decreased 17% to $0.40. The company maintains its guidance for recurring fee revenue growth of 12-15% and Adjusted EPS growth of 11-15%. Closed sales also surged 87% to $83 million.
Broadridge Financial Solutions (NYSE: BR) and Financial Services Institute released a study revealing growth opportunities for financial advisors in the wealth management sector. The survey of over 400 U.S. advisors indicates that 92% are satisfied with their technology, yet many see room for improvement. Notably, 64% report increased interest in cryptocurrency from clients, while 33% noted a rise in ESG investments. The study emphasizes the importance of financial literacy and technology tools in reaching new client demographics and enhancing service quality.
Broadridge Financial Solutions (NYSE:BR) has launched a new automated voting service for the Spanish market in collaboration with Santander Investment S.A. This service aims to streamline the voting process, reduce error rates, and enhance service offerings for custody banks and brokers in Spain. It aligns with Broadridge's Direct Market Solutions product suite, assuring full compliance with SRD II regulations. With a revenue of $5 billion and a global trading infrastructure supporting over $9 trillion, Broadridge continues to innovate in corporate governance and financial communications.
Broadridge Financial Solutions (NYSE: BR) announced it is the first fintech provider to connect with DTCC's new automated process for submitting corporate actions instructions in ISO 20022 format. This initiative enhances Broadridge's Global Asset Servicing Solutions, allowing clients to automate submissions, which reduces human error and costs. The integration aims to improve the efficiency of managing corporate actions, facilitating better processing rates. Broadridge services over 60 DTCC corporate actions clients and anticipates launching the program in early 2022 after thorough testing.
Broadridge Financial Solutions (NYSE: BR) will release its financial results for Q2 of fiscal year 2022 on February 1, 2022. A webcast and conference call will take place at 8:30 a.m. ET on the same day, featuring CEO Tim Gokey and CFO Edmund Reese. Investors can access the presentation through the Investor Relations website. Broadridge reported $5 billion in revenues and supports over $9 trillion in daily trading across various securities globally, playing a crucial role in financial infrastructure and corporate governance.
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On January 18, 2022, Pareto Securities announced the implementation of Itiviti's multi-asset order management solution, powered by Broadridge Financial Solutions (NYSE: BR), marking a significant shift from its previous technology provider of 10 years. This upgrade aims to enhance client connectivity and trading capabilities. COO Kristian O. Stenbakk expressed confidence in Broadridge's user-friendly platform and strong service quality, positioning Pareto for improved execution services and market adaptability.
Broadridge Financial Solutions (NYSE: BR) has announced plans to provide end-to-end proxy vote confirmation to shareholders of over 2,000 U.S. public companies in 2022. This enhancement aims to increase trust in the proxy voting process, developed with input from a Working Group led by the Society for Corporate Governance and the Council of Institutional Investors. The new protocols include a pilot for early-stage voting entitlement reconciliation, which addresses discrepancies in voting records before shareholder meetings, ensuring accurate vote tallying.
Broadridge Financial Solutions (NYSE: BR) has launched a live cross-border proxy voting solution in partnership with SLIB, targeting the French market. This initiative assists financial intermediaries in complying with the new Shareholder Rights Directive (SRDII), enhancing corporate governance standards across Europe. The solution integrates Broadridge's global proxy voting infrastructure with SLIB's Votaccess platform, improving cross-border processing efficiency. This collaboration is expected to bolster shareholder democracy and stewardship among France-based investors.
Broadridge Financial Solutions (NYSE: BR) announced the appointment of Dipti Kachru as Global Chief Marketing Officer, effective January 18. Kachru will lead Broadridge's global marketing strategy, focusing on brand reputation and revenue growth. Previously, she served as CMO at J.P. Morgan's Wealth Management division, known for launching a successful client acquisition engine. Kachru's experience in financial services and her commitment to corporate governance and digital transformation are expected to enhance Broadridge's market position.