Broadridge's Strategic Acquisition of iJoin Elevates Retirement Solutions
Broadridge Expands Retirement Services Through iJoin Acquisition
In an exciting development for the retirement planning industry, Broadridge Financial Solutions, Inc. (NYSE: BR) has announced its acquisition of iJoin, a leader in retirement plan technology. This strategic move aims to bolster the various services available to record keepers, financial advisors, asset managers, and insurers, ultimately enhancing participant outcomes and growth opportunities.
iJoin specializes in participant onboarding, engagement, and analytics, which aligns perfectly with Broadridge's existing portfolio. The addition of iJoin’s innovative solutions will significantly enhance how providers manage retirement plans, focusing on personalized user experiences and superior participant support.
Mike Tae, Group President of Funds, Issuer, and Data-driven Solutions at Broadridge, emphasized the increased demand for personalized retirement solutions. He stated, "With growing interest in lifetime income options and the convergence of retirement and wealth management, advanced tools are vital for improving participant experiences and outcomes.” Broadridge’s existing retirement plan servicing solutions will be enriched by iJoin’s data standardization and managed account technologies.
This merger will enable Broadridge to offer an integrated approach to retirement solutions, combining their investment servicing and analytics with iJoin's robust onboarding and engagement tools. As a result, providers in the retirement ecosystem can look forward to delivering a seamless experience for plan participants.
According to Steve McCoy, CEO of iJoin, the core mission of their company has always been about creating a more personalized experience for retirement plan participants. He noted, "Partnering with Broadridge enhances our ability to provide tailored, goal-oriented solutions that drive better results for our clients and the participants we serve.” By leveraging Broadridge's scale and established relationships, iJoin hopes to innovate and expand their reach in the retirement planning sector.
The integration of iJoin’s capabilities will allow record keepers to facilitate smoother participant enrollment into 401(k) plans and will empower asset managers and insurers to deliver managed account solutions more effectively. Financial advisors can also benefit from refined identification of participant cohorts and improved personalized outreach campaigns.
The acquisition of iJoin is not anticipated to have a considerable impact on Broadridge’s financial results, indicating precise strategic planning and integration. This endeavor reflects Broadridge's commitment to fostering innovation and growth in the financial technology landscape, especially within the retirement planning sphere.
About Broadridge
Broadridge Financial Solutions (NYSE: BR) is recognized as a global technology leader that specializes in providing transformative technology to enhance operational capabilities for clients in the financial services industry. The company is dedicated to powering governance, communications, and investing for its clients, thus driving operational resilience and business performance.
Processing over seven billion communications annually, Broadridge plays a crucial role in facilitating the average daily trading of more than $15 trillion in various securities worldwide. A certified Great Place to Work®, it is also part of the S&P 500® Index and boasts a workforce of over 15,000 employees distributed across 21 countries.
For further information, visit www.broadridge.com.
Frequently Asked Questions
What is the significance of Broadridge acquiring iJoin?
The acquisition enhances Broadridge's capability to deliver personalized retirement services, integrating advanced participant engagement tools from iJoin.
How does iJoin contribute to Broadridge's offerings?
iJoin provides technology for participant onboarding and engagement, which complements Broadridge's retirement investment servicing and analytics.
Will the acquisition affect Broadridge's financial performance?
It is not expected to have a significant impact on Broadridge's financial results, indicating thoughtful integration plans.
What is Broadridge's mission?
Broadridge aims to enhance operational resiliency and business performance for financial services clients through transformative technology.
How many employees does Broadridge have?
Broadridge employs over 15,000 associates globally, reflecting its extensive operational capacity in the financial services market.
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