Podcast Episode Details

The Invisible Giant: How Broadridge Powers Wall Street’s "Plumbing"

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Episode 987

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Have you ever wondered who actually handles the paperwork and counts the votes when you own stock? In this episode, we deep dive into Broadridge Financial Solutions, a fintech powerhouse that operates as the backbone of the financial industry.

Originally founded in 1962 as a brokerage unit of Automatic Data Processing (ADP), Broadridge spun off in 2007 to become an independent public company headquartered in Lake Success, New York. Today, it generates over $6.5 billion in revenue and employs 14,000 people, yet it remains largely unknown to the average consumer.

Tune in to discover:

• The "Monopoly" on Voting: How Broadridge came to handle proxy services for approximately 80% of outstanding shares in the United States, managing critical shareholder communications and virtual annual meetings.
• Regulatory Origins: We trace the company's history back to 1970s legislation that mandated the "immobilization" of paper stock certificates, creating the need for intermediaries to manage shareholder voting.
• Expansion & Acquisitions: A look at Broadridge’s aggressive growth strategy, including the $2.5 billion purchase of Itiviti and the acquisition of wealth management platforms.
• Future Tech: How this legacy company is modernizing by using blockchain for repurchase agreements and launching "BondGPT," an AI chatbot for the bond market powered by OpenAI.

Join us as we explore how a company that started by processing 300 trades a night now manages the infrastructure for banks, brokers, and wealth managers worldwide.

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Published on 2 weeks, 3 days ago