Broadridge Adds Fi360 Fiduciary Scores, Boosts Transparency

401k, transparency, retirement, Fi360
We can see right through them.

In response to what it says is customer and industry demand for greater fiduciary transparency, Fintech powerhouse Broadridge Financial Solutions announced Tuesday that it has integrated the Fi360 Fiduciary Score within its Distribution Insight platform.

Broadridge’s predictive analytics solution, Opportunity Hunter, “will include Fi360 Fiduciary Scores for each investment and enhanced advisor profiles, combining competitive intelligence on funds with advisor rankings,” according to the companies.

“Prioritizing higher levels of fund and advisor transparency is more important than ever as a result of significant regulatory pressure including the fiduciary rule, SEC best-interest proposal and ERISA litigation and settlements,” Dan Cwenar, Broadridge’s head of asset management data and analytics, said in a statement. “By augmenting our distribution insight platform with Fi360 data, we are able to bring more transparency to the asset manager and financial advisor relationship, ultimately benefitting the end investor.”

“Financial advisors rely on our products to improve transparency and perform due diligence on the information provided by their asset managers,” added John Faustino, AIFA, PPC, chief product and strategy officer of Fi360. “It’s only natural for asset management firms to have native visibility into the same fiduciary metrics on which their products are evaluated, and the integration with Broadridge will facilitate a stronger relationship between advisors and asset managers.”

Fi360 provides fiduciary technology, education and data. The Fi360 Fiduciary Score “is a transparent and objective investment rating system that provides the ability to compare peer investments and determine fiduciary appropriateness.”

By combining Fi360 scores with existing industry data and Broadridge proprietary data, the companies note, Broadridge will provide a way for investment managers to measure themselves, their funds and their competitors by the same metrics that advisors trust.

Broadridge and Fi360 plan to expand this strategic partnership in the coming months with the addition of portfolio profiles within Broadridge’s Distribution Insight platform.

John Sullivan
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With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.

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