NEW YORK, Oct. 25, 2018 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader,
and UBS (NYSE: UBS), the world's
largest wealth manager, today announced an innovative strategic partnership where UBS Wealth Management USA will be the anchor client on Broadridge's new wealth management industry platform. The Broadridge Wealth
Platform is a next-generation open platform that will solve a key financial services challenge by creating a modern,
industry-level wealth management best-in-class technology solution. The platform enables wealth managers to drive their business
to the next level while mutualizing investments in technology, innovation and security.
With the Broadridge Wealth Platform, UBS WM USA will be able to deploy an integrated and
modern front- to -back office solution that optimizes Financial Advisor productivity, creates a richer client experience, and
digitizes enterprise-wide operations. Adopting an industry-standard, open solution will enable UBS to provide unique value to its
advisors while sharing the cost of adapting to ongoing technology innovation, regulatory and industry change, and cybersecurity
requirements.
"Working with UBS, the largest global wealth manager, is a major milestone in creating the wealth management industry platform
of the future," said Tim Gokey, President and COO of Broadridge. "The Broadridge Wealth Platform
will create a new industry business model by enhancing the advisor and client experience while mutualizing key front-, middle-
and back-office functions. This partnership showcases Broadridge's technology and innovation capability to deliver industry-level
solutions."
"Broadridge is the right partner and the only Fintech leader with the proven technology, scale and experience to deliver such
a transformational solution," said Tom Naratil, Co-President, UBS Global Wealth Management and
President, UBS Americas. "This innovative partnership will build the next generation of technology to enhance advisor
productivity, create a superior client experience and drive enterprise efficiency. This represents UBS's forward-looking approach
as we continue to take a leading role in redefining wealth management."
Rapid changes in wealth management are being driven by shifting expectations across generations, the evolution of advisors'
roles and traditional business models, regulatory compliance and a shift towards low-cost passive products. The Broadridge Wealth
Platform will address each of these new realities and is specifically designed to create efficiencies and revenue opportunities
for advisors as well as the enterprise at large, while enabling a seamless client experience.
Broadridge's new platform will include a modernized advisor desktop and customizable toolset. Key advisory features will
include performance reporting, managed accounts support, and sleeve accounting; multi-market order management and trade routing,
and full back-office functionality that handles multi-currency, global clearance and settlement, asset servicing, and integrated
workflow across the entire enterprise to accelerate client on-boarding and other key service tasks. The Broadridge Wealth
Platform will be fully open with a comprehensive, real-time data fabric and API structure that enables seamless connectivity to
UBS's proprietary and third-party applications. This is another example of Broadridge driving the innovation roadmap, applying
artificial intelligence, cloud and digital capabilities to create a unified platform to address key client needs and drive impact
across the industry.
About UBS
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private
clients in Switzerland. UBS's strategy is centered on our leading global wealth management
business and our premier universal bank in Switzerland, enhanced by Asset Management and the
Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital
efficient, and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in 52 countries, with about 34% of its employees
working in the Americas, 34% in Switzerland, 18% in the rest of Europe, the Middle East and Africa and 14%
in Asia Pacific. UBS Group AG employs approximately 61,000 people around the world. Its shares
are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR), a $4 billion global Fintech leader and a part
of the S&P 500® Index, is a leading provider of investor communications and technology-driven solutions to banks,
broker-dealers, asset managers and corporate issuers globally. Broadridge's investor communications, securities processing and
managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase
their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting
services for over 50 percent of public companies and mutual funds globally, and processes on average more than US $5 trillion in fixed income and equity trades per day. Broadridge employs over 10,000 full-time associates in
18 countries.
For more information about Broadridge, please visit www.broadridge.com
Investors:
W. Edings Thibault
Head of Investor Relations
+1 516-472-5129
edings.thibault@broadridge.com
Media:
Broadridge Financial Solutions
Tina
Wadhwa
+1 212-973-6164
Tina.wadhwa@broadridge.com
UBS
Peter Stack: Media Relations, Americas
+1 212-882-5692
peter.stack@ubs.com
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SOURCE Broadridge Financial Solutions, Inc.