Broadridge Acquisition of Fi360 Underlines RIA Fiduciary EvolutionPLANADVISER
October 14, 2019
Broadridge Financial Solutions last week announced it has entered into a purchase agreement to acquire Fi360, a growing provider of fiduciary-focused software, data and analytics for financial advisers and intermediaries.
In recent years, Fi360 has grown organically and through its own acquisition activity. Last year, for example, Fi360 acquired the Center for Fiduciary Management (CFFM). The firm has also been active in forming integrations and working partnerships with fiduciary-focused retirement plan providers.
Speaking with PLANADVISER about this latest development, Michael Liberatore, president of Broadridge’s mutual fund and retirement solutions business, and Bill Mueller, CEO of Fi360, say they are very optimistic about the opportunities for synergy between the two firms. Liberatore notes that Broadridge, through its work with retirement plan recordkeepers and plan service providers, already touches tens of millions of retirement plan participants on an annual basis.