Broadridge, Salesforce Tap Advisors' Automation Needs

Tom Burroughes Group Editor London 15 May 2024

Broadridge, Salesforce Tap Advisors' Automation Needs

Broadridge told this publication that it aims to capitalise on advisors' need to save time on manual tasks so that they can devote more energy to cultivating and serving clients with personalised offerings. Markets covered by the rollout include the UK.

Broadridge Financial Solutions has launched two apps on the Salesforce AppExchange. It hopes this enterprise marketplace will turbocharge advisors’ businesses.

The apps cover Broadridge’s Securities Based Lending (SBL) and AdvisorStream Digital Marketing offerings.

The SBL app allows advisors to offer such lending, follow up promising business opportunities, originate and monitor loans.

The apps are designed for North America and other markets, such as the UK, Broadridge told this news service.

AdvisorStream Digital Marketing Automation for Advisors takes much of the manual labour out of marketing and communications, enabling advisors to share tailor-made communications with clients in the ways they prefer.

“The target market firms hail from a broad swathe of the wealth industry that we serve,” Darren Duffy, vice president of strategy, Broadridge Financial Solutions, told this new service's sister publication FWR. “AdvisorStream is used by advisors across the US, Canada and the UK at broker dealers, RIA firms, insurance owned broker-dealers and large banks.” 

The opportunities to tap into securities based lending are large, Duffy said. “Based on research carried out in 2021 by an external consultant, we estimate the overall SBL market to be valued at approximately $330 billion. We expect market size is similar to slightly higher since then,” he said. 

Marketing growth
Duffy said marketing continues to be an area of increasing importance to advisors and wealth firms seeking to scale business and exploit intergenerational wealth transfer.

In its fifth study on advisor growth, issued this year, Broadridge found that 85 per cent of advisors report finding time as one of the biggest obstacles to driving growth with their marketing.

Another study (Dow Jones, State of Advice Study, 2022), found that only four in 10 advisors share personalised content with investors, despite 42 per cent of investors wanting content tailored to their interests and life events. 

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