Investigo sharpens Broadridge Financial Solutions' wealth-firm capabilities. Outsourcer Broadridge Financial Solutions has acquired financial-data provider Investigo. The acquisition stands to boost Broadridge's capabilities around data management and compliance support for wealth managers.

"Investigo's solution has proven to be readily scalable and is already making a difference for a number of large financial services firms," says Broadridge's CEO Richard Daly. "The acquisition of Investigo demonstrates our commitment to buy customer-focused organizations that can deliver innovative solutions to our clients."

Ambitious schedule

Investigo's web-based Enterprise Solution takes data from multiple sources -- including clearing houses, custodians and back-office systems -- and aggregates client account, position and transaction data in a single repository that is available to proprietary, third-party and Investigo-made applications.

Charlie Marchesani, president of Broadridge's Securities Processing Solutions (SPS) unit, says Investigo "is a great fit" with SPS. "Their technology and deep understanding of its applications will enable us to tailor better and deeper solutions for financial institutions confronting the need to seamlessly combine customer and transaction information from multiple sources to achieve their business, relationship-management and compliance strategies."

And according to Investigo co-founder Scott Fergusson -- who will become v.p. for product management and development at Broadridge SPS -- the merger with Broadridge will enable us to support an ambitious schedule of product development while constantly improving the quality and service levels of all of our offering."

Terms of the transaction weren't disclosed.

Lake Success, N.Y.-based Broadridge was the brokerage-services unit of transaction processor ADP until it spun off in 2007.

Minneapolis-based Investigo provides data aggregation, performance reporting, CRM, regulatory compliance and document-management services to broker-dealers, clearing firms, institutional custodians, money managers and insurance carriers. -FWR

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