18 financial institutions currently leveraging
Broadridge's solution to help first time homebuyers achieve the
dream of buying a house
NEW
YORK and TORONTO,
April 29,
2024 /CNW/ -- Broadridge Financial Solutions,
Inc. (NYSE: BR), a global Fintech leader, announced their continued
success in modernizing wealth management in Canada with a First Home Savings Account
(FHSA) solution which allows first time homebuyers to save for
their first home purchase. Since launching the solution in
June 2023, Broadridge clients were
first to market with FHSA capabilities and today, Broadridge's
solutions administer over 440,000 accounts allowing investors to
meaningfully save over $1.8 billion
in CAD AUM for this important life milestone.
"The introduction of the FHSA has been a tremendous success and
continues to be one of the most in-demand rollouts we've
experienced," said Praneil Ladwa, Chief Product Officer and Head of
International Operations, Questrade Financial Group. "Our success
would not have been possible without our trusted partner,
Broadridge, who was not only a key contributor towards ensuring
that we were first to bring the FHSA to market, but also in
delivering on our commitment to be there for Canadians as they take
the important steps towards home ownership."
Originally announced in 2022 to encourage investors to save for
their first home, an FHSA is a registered plan that allows
Canadians to save for their first home tax-free (up to certain
limits).
"Broadridge is very proud that our FHSA offering is helping so
many of our Canadian clients and their customers make the dream of
homeownership a reality," said Karin
Kirkwood, President of Broadridge Canada. "Our digitally
enabled solution delivers significant value, by helping financial
organizations improve the customer and advisor experience by
offering a single account holding multiple investment products all
in one place, in a way that streamlines technology and operations
to reduce overall costs."
Broadridge's solution has a strong focus on customer
satisfaction, addressing the unique needs and challenges faced by
the Canadian wealth industry. The Broadridge FHSA offering is
seamlessly integrated with Broadridge's existing Canada Wealth
components and provides a consistent and scalable solution for
enterprise digitization. Since launching in June 2023, 18 financial institutions, across all
industry sectors, have implemented Broadridge's solution,
highlighting the richness and configurability of the solution.
Overall, Broadridge's Wealth Platform solution demonstrates how
Canadian financial institutions can use Broadridge offerings to
create market impact, service investors and build relationships for
life, as a result of leveraging this momentous milestone.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech
leader with over $6 billion in
revenues, provides the critical infrastructure that powers
investing, corporate governance, and communications to enable
better financial lives. We deliver technology-driven solutions that
drive business transformation for banks, broker-dealers, asset and
wealth managers and public companies. Broadridge's infrastructure
serves as a global communications hub enabling corporate governance
by linking thousands of public companies and mutual funds to tens
of millions of individual and institutional investors around the
world. Our technology and operations platforms underpin the daily
trading of more than $10 trillion of
equities, fixed income and other securities globally. A certified
Great Place to Work®, Broadridge is part of the S&P
500® Index, employing over 14,000 associates in 21
countries.
For more information about us, please
visit www.broadridge.com.
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Gregg
Rosenberg
Global Head of Corporate Communications
Gregg.Rosenberg@broadridge.com
SOURCE Broadridge Financial Solutions, Inc.