Wednesday, February 8

Broadridge Acquires Retirement Planning Co.


Broadridge Financial Solutions, one of Long Island’s bigger companies, is getting bigger.

The company has reached a deal to acquire Fi360, a maker of software and analytics for financial advisors focusing on retirement and wealth creation.  Fi360 also provides continuing education for the Accredited Investment Fiduciarydesignation.

Terms of the acquisition of Pittsburgh-based Fi360, founded in 1999, weren’t revealed. Fi360 last year acquired the Center for Fiduciary Management, a maker of software  for retirement plan advisers.

Lake Success-based Broadridge said the takeover “will enhance its existing retirement solutions” and strengthen its “data and analytics tools and solutions” in particular for retirement planning.

The deal comes after the Securities and Exchange Commission passed Best Interest regulations, further strengthening requirements to look out for clients’ interest in fiduciary advice.

“Our goal is to help firms stay ahead of this evolving regulatory landscape,” said Michael Liberatore, head of Broadridge’s mutual fund and retirement solutions business.

Fi360’s  products let broker-dealers automate compliance procedures and identify risks. Its online and in-classroom training also provide services for retirement, wealth and other investment professionals.


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