Skip navigation
The Daily Brief
Broadridge financial office

Reg BI Factors In Broadridge's Latest Acquisition

Broadridge makes a move to bring compliance and compensation management technology into its portfolio.

Broadridge Financial Solutions purchased San Diego-based Financial Database Services, a firm with solutions for compensation management, compliance and advisor onboarding, according to a company announcement by Broadridge. Terms of the deal were not announced.

Financial Database Services provides modular compensation and compliance tools for broker/dealers as part of its CAESAR Technology offering, which was originally designed as a commission accounting system. The firm has 37 employees, according to data provided by Financial Database Services, and was founded in 1979. 

Broadridge is counting on the 40-year-old company's technology to boost its “wealth capabilities and growing [its] client base,” according to Michael Alexander, head of North American wealth and capital markets solutions at the firm. “Compensation management and compliance are key industry areas in need of transformation, and we look forward to extending our industry leading capabilities.”

Broadridge noted that the adoption of the SEC’s Regulation Best Interest rule was a factor in the acquisition. Having Financial Database Services’ technology in-house “strengthen[s] Broadridge’s position to help clients with adoption and compliance,” according to the firm.

Want The Daily Brief delivered directly to your inbox? Sign up for's Morning Memo newsletter.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.