LAKE SUCCESS, N.Y., July 26, 2016 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR) has signed an agreement with SEI (NASDAQ: SEIC) that will provide SEI private banking clients access to Broadridge's global securities class action services.
Through the new strategic partnership, SEI private banking clients can elect to utilize Broadridge's services, which will monitor securities class action lawsuit settlements worldwide to spot opportunities to help recover funds for SEI clients and their customers. Broadridge's solution includes case and settlement research, class action notifications and distribution, loss calculation, completion and submission of claims forms, collection of payments, and associated recordkeeping and reporting.
"The securities class action space has become more complex and the need for an efficient, scalable and reliable provider with a proven track record is more important than ever," said Sandy Ewing, senior vice president, TRUST 3000, SEI Private Banking. "Broadridge has been a trusted partner for over 20 years. Global securities class action services is another example of Broadridge leading the industry with technology, service, and expertise that will ensure the highest level of satisfaction for the end-customer."
"Securities class actions are an increasing area of focus for sophisticated investors, with billions of dollars in settlements that go unclaimed each year. We are pleased to offer SEI private banking clients the opportunity to efficiently and effectively manage the research, filing and recovery process," said Joseph Vicari, vice president of business development, Broadridge.
This new strategic partnership is an expansion of the proxy voting, corporate actions, first-dollar-in prospectus fulfillment and master-limited partnership tax reporting solutions Broadridge has provided to SEI and its clients for over 20 years. Effective immediately, SEI private banking clients will be able to select Broadridge as their provider of global securities class actions filing and recovery services.
Broadridge Financial Solutions, Inc. (NYSE: BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge's investor communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs more than 9,000 full-time associates in 14 countries. For more information about Broadridge, please visit www.broadridge.com.
SEI (NASDAQ: SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of March 31, 2016, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $684 billion in mutual fund and pooled or separately managed assets, including $265 billion in assets under management and $419 billion in client assets under administration. For more information, visit seic.com.
Broadridge Financial Solutions
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SOURCE Broadridge Financial Solutions, Inc.