Broadridge Financial Solutions (BR)
Processes proxy communications and powers front-to-back trading, wealth, and investment-management workflows.
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Broadridge is the plumbing behind other people's finance. When a company you own shares in holds a vote, Broadridge is what gets the ballot to you and counts it; when a bank needs a trading back office or a wealth firm needs an adviser's screen, it rents one here instead of building it. A third of the revenue is just postage passed along. Its newest bet rebuilds that same plumbing on shared digital ledgers.
Item facts: FY2026 · year ended June 30, 2026, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
9 in detail · 16 more below
Distribution
Postage, printing and delivery for all those investor mailings, billed straight through at cost. The biggest line on the page at 30.1% of revenue and the least profitable one; a proposed SEC rule would flip the default away from paper.
Competes with Shareholder communication and mailing (Computershare) · Vote Connect digital delivery (Proxymity)
In plain English
Think of a caterer's bill: the cooking is the work, the delivery van is just cost handed on at what it cost. This is the van.
When a broker has to get a proxy statement or a fund prospectus into your hands, Broadridge prints it, stuffs the envelope, pays the postage and bills the broker for the mailing — management's own word for the margin here is "low to no". That is why the biggest line in Broadridge's revenue matters least: it grows when stamps get dearer, not when the business gets better. Next year's growth is guided off postage rates, not volume.
Customer Communications
Statements, trade confirmations and notices produced and sent on behalf of banks, brokers and insurers. 10.1% of revenue; digital grew 14% last year while print volumes fell, leaving total growth at 1% in the June quarter.
Competes with Customer communications platform (Quadient) · Exstream document platform (OpenText) · Enterprise document delivery (Adobe)
In plain English
Every account statement, trade confirmation and "you must read this" notice a bank owes its customers has to be produced, addressed and sent — millions of them a month. Broadridge runs that production line on the bank's behalf, on paper and on screen.
It is paid per document, whichever way the document travels. The direction of travel is the story: digital revenue has grown above 10% for four years running, and 14% last year, while shrinking print volumes held growth to 1% in the June quarter. Wealth InFocus, the app-style version, is what Broadridge sells as the replacement, with six US wealth managers on it or joining.
Regulatory Communications and Proxy
The vote-delivery machine: ballots and required disclosures routed to whoever actually owns the shares, priced per shareholding — over a billion of them last year. 19.2% of revenue, up 12%, and the company's profit engine.
Competes with Vote Connect (Proxymity) · Registry and proxy services (Computershare)
In plain English
Most people who own shares do not own them in their own name: the stock sits inside a brokerage account, so the company you invested in has no idea who you are. Broadridge is the switchboard in between. It gathers owner records from hundreds of custodian banks and brokers, sends out the ballots and required documents, collects the votes and reports them back.
It is paid a fee per shareholding under a schedule the New York Stock Exchange sets, with the company holding the vote reimbursing the broker. So the money follows how many investment accounts exist — which grew double digits last year — rather than whether markets went up.
Event-Driven Revenue
Extra voting and mailing work that only happens when something unusual does — a fund changing its rules, a merger, a contested board. A record $348.1M last year, but it slid from $113.8M in the first quarter to $71.0M in the fourth, and is guided to $250–300M.
Competes with Proxy solicitation and annual meetings (Computershare) · Vote Connect real-time proxy voting (Proxymity)
In plain English
Special votes happen when something breaks the routine: a merger lands, a fund rewrites its rules, someone wants the board replaced. Each one means a fresh round of documents and ballots out to everyone affected, and the results counted.
Broadridge runs those campaigns over the same rails it already uses for the routine votes, so most of the extra money drops through to profit. That cuts both ways. Last year's burst of mutual fund votes faded quarter by quarter, and management expects less of it this year — and because it was such profitable work, less of it pulls the margin down with it.
Issuer Solutions
The other side of the same conversation — sold to companies rather than brokers: shareholder records, disclosure work and online annual meetings. 3.9% of revenue, up 8%, with 80% of the Fortune 500 using it for directly held shares.
Competes with Transfer agency and annual meetings (Computershare) · Transfer agency and registrar services (Equiniti (EQ))
In plain English
Public companies have a group of shareholders who hold stock straight with the company rather than through a broker. Somebody has to keep that list, write to those people, and run the annual meeting where shareholders put questions to the board. Broadridge does all three, and now hosts the meeting online.
The company pays for the record-keeping, the filings and the meeting. This pool of direct holders is mature and shrinking next to the brokerage-held side, so growth has to come from selling new things to the same list — ShareLink, for one, gathers a company's direct, brokerage-held and tokenized shareholders into a single view.
Capital Markets
The trading back office banks rent instead of building: order routing, trade processing, settlement records, corporate actions. 15.8% of revenue, up 5%, with 22 of the 26 big US bond dealers as clients and trade volumes up 15%.
Competes with Post Trade Processing Platform (FIS) · XTP cloud post-trade (ION Group)
In plain English
After a trade is agreed, a surprising amount of work starts: matching both sides, recording who now owns what, moving the money, handling dividends and splits. Banks once built that machinery themselves, and it is close to identical at every firm.
So they pay Broadridge to run one shared version, charged by subscription and by trade. Rule changes help: longer trading hours and more clearing of US government-bond trades through a central hub push extra work onto exactly this kind of shared platform. CQG, bought in May for about $173M, added futures and options trading screens and contributed three points of the June quarter's growth.
Distributed Ledger Repo and DLX
A digital-ledger version of the overnight borrowing banks do against their bonds; roughly $8 trillion of it passed through in a recent month. That is value moved, not money kept — revenue is small, and management wants volumes half again higher by December.
Competes with Kinexys tokenized collateral network (J.P. Morgan) · Tokenization Service (DTCC)
In plain English
Overnight borrowing, rebuilt. Banks routinely hand over bonds as security to borrow cash for a night, then buy the bonds back in the morning.
Broadridge spent roughly eight years building a shared digital record — one ledger every participant reads at once — so those bonds can be moved and reused far more freely. Around twenty institutions are live or joining, and daily volumes have climbed from about a hundred billion dollars in early 2025 to several hundred billion now. What Broadridge earns per deal has never been disclosed; what is visible is the volume. DLX, launched in September, points the same machinery at tokenized funds, shares and other assets.
Wealth and Investment Management
One system for financial advisers — client records, the adviser's screen, orders, reporting — with the 15 largest US wealth providers among its clients. 9.8% of revenue, up 10%. Company-wide, $470M of sold work is still waiting to switch on.
Competes with Wealth and investment technology (SS&C) · Wealth management platform (InvestCloud) · Wealth platform (FNZ)
In plain English
A financial adviser's day runs on one screen: what each client owns, what it is worth, what to buy, what the tax form will say. Building that screen — and the record-keeping underneath it — takes years, and every wealth firm needs much the same one.
Broadridge sells it whole or in pieces on multi-year contracts. Last year's 10% growth came mostly from Canada, helped by SIS, a Canadian wealth platform it bought in 2024. Two honest notes: SS&C leads this market with more than a fifth of it, and losing one large client stings — E-Trade's departure cost about a point and a half of recurring growth.
Data-Driven Fund Solutions
Sells fund companies a picture of who is buying what, plus retirement-plan technology and help registering funds for sale across Europe. 6.4% of revenue, growing 4% — the slowest of the investor-communications lines.
Competes with Simfund and MarketPulse (ISS Market Intelligence) · Cross-border fund distribution (Allfunds) · Fund data (Morningstar)
In plain English
Who is actually buying your fund, and who is quietly selling out? That is the question this business answers. Broadridge sells fund managers a running read on money flows and demand — its model tracks $120 trillion of assets for nearly two dozen managers — as a subscription, alongside fund and ETF data.
Bolted on are two smaller trades: software for workplace retirement plans, and Acolin, a Zurich firm bought in January that handles the paperwork a fund needs to be sold country by country in Europe. One drag sits here too — part of the income is interest earned on client cash, which shrinks as rates fall.
DistributionPostage, printing and delivery for all those investor mailings, billed straight through at cost. The biggest line on the page at 30.1% of revenue and the least profitable one; a proposed SEC rule would flip the default away from paper.Postage, printing and delivery for all those investor mailings, billed straight through at cost. The biggest line on the page at 30.1% of revenue and the least profitable one; a proposed SEC rule would flip the default away from paper.
In plain English
Think of a caterer's bill: the cooking is the work, the delivery van is just cost handed on at what it cost. This is the van.
When a broker has to get a proxy statement or a fund prospectus into your hands, Broadridge prints it, stuffs the envelope, pays the postage and bills the broker for the mailing — management's own word for the margin here is "low to no". That is why the biggest line in Broadridge's revenue matters least: it grows when stamps get dearer, not when the business gets better. Next year's growth is guided off postage rates, not volume.
Competes with Shareholder communication and mailing (Computershare) · Vote Connect digital delivery (Proxymity)
Customer CommunicationsStatements, trade confirmations and notices produced and sent on behalf of banks, brokers and insurers. 10.1% of revenue; digital grew 14% last year while print volumes fell, leaving total growth at 1% in the June quarter.Statements, trade confirmations and notices produced and sent on behalf of banks, brokers and insurers. 10.1% of revenue; digital grew 14% last year while print volumes fell, leaving total growth at 1% in the June quarter.
In plain English
Every account statement, trade confirmation and "you must read this" notice a bank owes its customers has to be produced, addressed and sent — millions of them a month. Broadridge runs that production line on the bank's behalf, on paper and on screen.
It is paid per document, whichever way the document travels. The direction of travel is the story: digital revenue has grown above 10% for four years running, and 14% last year, while shrinking print volumes held growth to 1% in the June quarter. Wealth InFocus, the app-style version, is what Broadridge sells as the replacement, with six US wealth managers on it or joining.
Competes with Customer communications platform (Quadient) · Exstream document platform (OpenText) · Enterprise document delivery (Adobe)
Regulatory Communications and ProxyThe vote-delivery machine: ballots and required disclosures routed to whoever actually owns the shares, priced per shareholding — over a billion of them last year. 19.2% of revenue, up 12%, and the company's profit engine.The vote-delivery machine: ballots and required disclosures routed to whoever actually owns the shares, priced per shareholding — over a billion of them last year. 19.2% of revenue, up 12%, and the company's profit engine.
In plain English
Most people who own shares do not own them in their own name: the stock sits inside a brokerage account, so the company you invested in has no idea who you are. Broadridge is the switchboard in between. It gathers owner records from hundreds of custodian banks and brokers, sends out the ballots and required documents, collects the votes and reports them back.
It is paid a fee per shareholding under a schedule the New York Stock Exchange sets, with the company holding the vote reimbursing the broker. So the money follows how many investment accounts exist — which grew double digits last year — rather than whether markets went up.
Competes with Vote Connect (Proxymity) · Registry and proxy services (Computershare)
Event-Driven RevenueExtra voting and mailing work that only happens when something unusual does — a fund changing its rules, a merger, a contested board. A record $348.1M last year, but it slid from $113.8M in the first quarter to $71.0M in the fourth, and is guided to $250–300M.Extra voting and mailing work that only happens when something unusual does — a fund changing its rules, a merger, a contested board. A record $348.1M last year, but it slid from $113.8M in the first quarter to $71.0M in the fourth, and is guided to $250–300M.
In plain English
Special votes happen when something breaks the routine: a merger lands, a fund rewrites its rules, someone wants the board replaced. Each one means a fresh round of documents and ballots out to everyone affected, and the results counted.
Broadridge runs those campaigns over the same rails it already uses for the routine votes, so most of the extra money drops through to profit. That cuts both ways. Last year's burst of mutual fund votes faded quarter by quarter, and management expects less of it this year — and because it was such profitable work, less of it pulls the margin down with it.
Competes with Proxy solicitation and annual meetings (Computershare) · Vote Connect real-time proxy voting (Proxymity)
Issuer SolutionsThe other side of the same conversation — sold to companies rather than brokers: shareholder records, disclosure work and online annual meetings. 3.9% of revenue, up 8%, with 80% of the Fortune 500 using it for directly held shares.The other side of the same conversation — sold to companies rather than brokers: shareholder records, disclosure work and online annual meetings. 3.9% of revenue, up 8%, with 80% of the Fortune 500 using it for directly held shares.
In plain English
Public companies have a group of shareholders who hold stock straight with the company rather than through a broker. Somebody has to keep that list, write to those people, and run the annual meeting where shareholders put questions to the board. Broadridge does all three, and now hosts the meeting online.
The company pays for the record-keeping, the filings and the meeting. This pool of direct holders is mature and shrinking next to the brokerage-held side, so growth has to come from selling new things to the same list — ShareLink, for one, gathers a company's direct, brokerage-held and tokenized shareholders into a single view.
Competes with Transfer agency and annual meetings (Computershare) · Transfer agency and registrar services (Equiniti (EQ))
Capital MarketsThe trading back office banks rent instead of building: order routing, trade processing, settlement records, corporate actions. 15.8% of revenue, up 5%, with 22 of the 26 big US bond dealers as clients and trade volumes up 15%.The trading back office banks rent instead of building: order routing, trade processing, settlement records, corporate actions. 15.8% of revenue, up 5%, with 22 of the 26 big US bond dealers as clients and trade volumes up 15%.
In plain English
After a trade is agreed, a surprising amount of work starts: matching both sides, recording who now owns what, moving the money, handling dividends and splits. Banks once built that machinery themselves, and it is close to identical at every firm.
So they pay Broadridge to run one shared version, charged by subscription and by trade. Rule changes help: longer trading hours and more clearing of US government-bond trades through a central hub push extra work onto exactly this kind of shared platform. CQG, bought in May for about $173M, added futures and options trading screens and contributed three points of the June quarter's growth.
Competes with Post Trade Processing Platform (FIS) · XTP cloud post-trade (ION Group)
Distributed Ledger Repo and DLXA digital-ledger version of the overnight borrowing banks do against their bonds; roughly $8 trillion of it passed through in a recent month. That is value moved, not money kept — revenue is small, and management wants volumes half again higher by December.A digital-ledger version of the overnight borrowing banks do against their bonds; roughly $8 trillion of it passed through in a recent month. That is value moved, not money kept — revenue is small, and management wants volumes half again higher by December.
In plain English
Overnight borrowing, rebuilt. Banks routinely hand over bonds as security to borrow cash for a night, then buy the bonds back in the morning.
Broadridge spent roughly eight years building a shared digital record — one ledger every participant reads at once — so those bonds can be moved and reused far more freely. Around twenty institutions are live or joining, and daily volumes have climbed from about a hundred billion dollars in early 2025 to several hundred billion now. What Broadridge earns per deal has never been disclosed; what is visible is the volume. DLX, launched in September, points the same machinery at tokenized funds, shares and other assets.
Competes with Kinexys tokenized collateral network (J.P. Morgan) · Tokenization Service (DTCC)
Wealth and Investment ManagementOne system for financial advisers — client records, the adviser's screen, orders, reporting — with the 15 largest US wealth providers among its clients. 9.8% of revenue, up 10%. Company-wide, $470M of sold work is still waiting to switch on.One system for financial advisers — client records, the adviser's screen, orders, reporting — with the 15 largest US wealth providers among its clients. 9.8% of revenue, up 10%. Company-wide, $470M of sold work is still waiting to switch on.
In plain English
A financial adviser's day runs on one screen: what each client owns, what it is worth, what to buy, what the tax form will say. Building that screen — and the record-keeping underneath it — takes years, and every wealth firm needs much the same one.
Broadridge sells it whole or in pieces on multi-year contracts. Last year's 10% growth came mostly from Canada, helped by SIS, a Canadian wealth platform it bought in 2024. Two honest notes: SS&C leads this market with more than a fifth of it, and losing one large client stings — E-Trade's departure cost about a point and a half of recurring growth.
Competes with Wealth and investment technology (SS&C) · Wealth management platform (InvestCloud) · Wealth platform (FNZ)
Data-Driven Fund SolutionsSells fund companies a picture of who is buying what, plus retirement-plan technology and help registering funds for sale across Europe. 6.4% of revenue, growing 4% — the slowest of the investor-communications lines.Sells fund companies a picture of who is buying what, plus retirement-plan technology and help registering funds for sale across Europe. 6.4% of revenue, growing 4% — the slowest of the investor-communications lines.
In plain English
Who is actually buying your fund, and who is quietly selling out? That is the question this business answers. Broadridge sells fund managers a running read on money flows and demand — its model tracks $120 trillion of assets for nearly two dozen managers — as a subscription, alongside fund and ETF data.
Bolted on are two smaller trades: software for workplace retirement plans, and Acolin, a Zurich firm bought in January that handles the paperwork a fund needs to be sold country by country in Europe. One drag sits here too — part of the income is interest earned on client cash, which shrinks as rates fall.
Competes with Simfund and MarketPulse (ISS Market Intelligence) · Cross-border fund distribution (Allfunds) · Fund data (Morningstar)
Named in filings, launches and programs
- CQGBrandFutures and options trading screens, bought for about $173M in May 2026; added three points to capital-markets growth in the June quarter.
- AcolinBrandZurich business bought for $70M in January 2026 that gets funds registered for sale country by country across Europe.
- SISBrandCanadian wealth platform bought in late 2024; Canada is now the fastest-growing region at $544.4M of revenue.
- SignalBrandEuropean digital communications business bought in late 2025; worth two points of growth in the customer-communications line last quarter.
- iJoin / LDI-MAPBrandRetirement plan technology bought in late 2025, folded into the workplace and retirement offering.
- LTXPlatformAn AI-assisted marketplace for trading corporate bonds, run as a division of Broadridge's outsourcing arm.
- BondGPTProductA chat-style assistant on LTX for bond questions; in June 2026 it gained the ability to act on its own answers.
- Wealth InFocusProduct · RampingApp-style statements and notices for wealth clients; six US wealth managers were live or onboarding as of August 2026.
- ProxyEdgeProductThe workstation big institutions use to receive and cast proxy votes; being rebuilt during FY2027.
- ShareLink and Virtual Shareholder MeetingProductGathers a company's direct, brokerage-held and tokenized shareholders into one view, plus the platform that hosts the online annual meeting.
- NYFIXEcosystemA connection network linking 1,800-plus trading participants, now carrying crypto order flow too.
- Broadridge Trading and Connectivity SolutionsPlatformThe order and execution business banks use to place trades, built on Itiviti, bought in 2021.
- Custom policy engineProduct · RampingLets big fund managers apply their own voting rules automatically; its first season covered over $800B of US assets, with JPMorgan and Wells Fargo named users.
- Voting choice and Standing Voting InstructionsProduct · RampingLets fund investors direct how their shares are voted; reached 900-plus funds and $8T of assets, up from 600 funds a year earlier.
- Managed services and agentic AI partnershipsService · RampingRunning clients' back-office operations outright; a pricing model introduced in May 2026 offers a 30% cost cut from day one.
- Canton Super ValidatorEcosystemHelps operate the Canton digital-asset network and is paid in its coins; Broadridge held $265M of digital assets at the June year-end.
CQGBrand
Futures and options trading screens, bought for about $173M in May 2026; added three points to capital-markets growth in the June quarter.
AcolinBrand
Zurich business bought for $70M in January 2026 that gets funds registered for sale country by country across Europe.
SISBrand
Canadian wealth platform bought in late 2024; Canada is now the fastest-growing region at $544.4M of revenue.
SignalBrand
European digital communications business bought in late 2025; worth two points of growth in the customer-communications line last quarter.
iJoin / LDI-MAPBrand
Retirement plan technology bought in late 2025, folded into the workplace and retirement offering.
LTXPlatform
An AI-assisted marketplace for trading corporate bonds, run as a division of Broadridge's outsourcing arm.
BondGPTProduct
A chat-style assistant on LTX for bond questions; in June 2026 it gained the ability to act on its own answers.
Wealth InFocusProduct · Ramping
App-style statements and notices for wealth clients; six US wealth managers were live or onboarding as of August 2026.
ProxyEdgeProduct
The workstation big institutions use to receive and cast proxy votes; being rebuilt during FY2027.
ShareLink and Virtual Shareholder MeetingProduct
Gathers a company's direct, brokerage-held and tokenized shareholders into one view, plus the platform that hosts the online annual meeting.
NYFIXEcosystem
A connection network linking 1,800-plus trading participants, now carrying crypto order flow too.
Broadridge Trading and Connectivity SolutionsPlatform
The order and execution business banks use to place trades, built on Itiviti, bought in 2021.
Custom policy engineProduct · Ramping
Lets big fund managers apply their own voting rules automatically; its first season covered over $800B of US assets, with JPMorgan and Wells Fargo named users.
Voting choice and Standing Voting InstructionsProduct · Ramping
Lets fund investors direct how their shares are voted; reached 900-plus funds and $8T of assets, up from 600 funds a year earlier.
Managed services and agentic AI partnershipsService · Ramping
Running clients' back-office operations outright; a pricing model introduced in May 2026 offers a 30% cost cut from day one.
Canton Super ValidatorEcosystem
Helps operate the Canton digital-asset network and is paid in its coins; Broadridge held $265M of digital assets at the June year-end.