Broadridge Teams Up With Morningstar to Offer Asset Managers Retirement Plan Investment Data

LAKE SUCCESS, N.Y., May 3, 2018 /PRNewswire/ — Broadridge Financial Solutions, Inc. (NYSE: BR), a global fintech leader, and Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, have entered into an agreement to provide detailed retirement investment data to asset managers in an effort to further strengthen their ability to identify and prioritize advisor and consultant sales opportunities.

The agreement to include Morningstar’s retirement data further extends Broadridge’s offering of unique and value-added insight for the asset management industry. Broadridge’s analytics offerings for all segments of the retirement market will be enhanced with Morningstar’s RightPond retirement investment data and expertise related to product mappings, performance and risk ratings. Broadridge’s solutions, powered by Morningstar data, enable wholesalers to identify the 10,000+ advisors that specialize in the retirement business, and can provide more clarity into non-mutual fund assets held in large retirement plans.

“The retirement business continues to be a major opportunity for asset managers, but advisor product specialization and investment product shifts have changed the landscape significantly in recent years,” said Frank Polefrone, senior vice president of Broadridge’s mutual funds data and analytics business. “The combination of Morningstar data and Broadridge’s analytics solutions provides fund firms with the technology and precise information to pursue their best possible client opportunities. This is another example of how we’re working with clients to deliver real business value through data-driven solutions.”

Broadridge’s business intelligence and analytics capabilities help Defined Contribution Investment Only (DCIO) sales teams identify advisors that specialize in retirement plans and prioritize the ideal opportunities for their products. Broadridge also helps institutional asset managers identify product opportunities for large private defined contribution and defined benefit plans.

“Due to an increased specialization in the retirement market, asset managers and advisors are demanding advanced data and insights. We are excited to meet that demand and be the fuel to Broadridge’s analytical platform to help investors achieve their financial retirement goals,” said Scott Burns, Morningstar’s head of data and research products.

Morningstar acquired RightPond in 2016, combining retirement data with performance and attribute data to give asset managers and advisors a broader picture of where to invest clients’ assets. Morningstar gathers and curates data on plans that include corporate retirement plans, pensions, health and welfare plans, public pension funds, foundations, endowments and other institutional investors.