Broadridge Financial Solutions, Inc. (BR)

Broadridge is a Delaware corporation supplying financial technology to banks, broker-dealers, asset and wealth managers, public companies, investors and mutual funds. It does two distinct things: it runs the machinery that gets information and voting rights from a company out to the people who actually own its shares, and it runs the back-office technology that processes trades. Those are its two reportable segments: Investor Communication Solutions, the larger, at approximately 74% of revenues in fiscal 2026 and again in fiscal 2025, and Global Technology and Operations at approximately 26% in each year. As of 30 June 2026 it had approximately 16,000 full-time associates in 28 countries.

Why the proxy business exists

Most publicly traded shares are not registered in a company's own records under the name of the person who owns them. They are held in street name: of record by broker-dealers or banks through their depositories, and mostly under the name Cede & Co., used by The Depository Trust and Clearing Corporation on behalf of its participant broker-dealers and banks. Those participants, known as Nominees because they hold securities in name only, hold them for the individual beneficial owners. DTC passes its voting rights down by executing an omnibus proxy to its Nominees, and the rules then require Nominees to deliver proxy materials to beneficial owners and ask for voting instructions. A large number of Nominees have contracted that work out to Broadridge, transferring to it by power of attorney the authority to execute a proxy, and because dealing with every Nominee separately would cost more, companies and funds deal with Broadridge instead. SEC rules require public companies to reimburse Nominees for the cost of distributing communications to street-name holders, at rates set in the rules of self-regulatory organisations including the New York Stock Exchange, and Broadridge bills the company, collects the fee and remits the Nominee's share.

Investor Communication Solutions

Regulatory Solutions handles the whole proxy distribution and voting process for bank, broker-dealer, corporate issuer and fund clients, electronically and on paper, including the delivery preference database, website posting, email alerts and voting by telephone, online, mobile or paper. For institutions it offers ProxyEdge for voting multi-custodial holdings, a Custom Policy Engine that uses AI to build and execute a voting policy, Pass-Through Voting so an asset manager can vote underlying equities according to its own investors' preferences, and Proxy Disclosure for filing vote disclosures. Alongside the proxy work it composes, prints, files and distributes regulatory reports, prospectuses and proxy materials, including Tailored Shareholder Reports.

Data-Driven Fund Solutions provides analytics for asset managers, broker-dealers and retirement service providers, powering product distribution, predictive modelling and the automation of fund registration, commission payments and compliance monitoring, plus automated mutual fund and exchange-traded fund trade processing.

Corporate Issuer Solutions works the other side of the same meeting: project management of the whole annual meeting through ShareLink, a Standing Voting Instructions service that lets retail shareholders pre-set their preferences, and Virtual Shareholder Meeting for electronic meetings by webcast. It also provides SEC filing services including document composition, EDGARization and XBRL tagging, typesetting and filing for capital markets transactions such as initial public offerings and spin-offs, registrar, stock transfer and record-keeping through its transfer agency, and corporate actions work as exchange, paying or tender agent.

Customer Communications Solutions runs omni-channel communications for clients in financial services, healthcare, insurance, consumer finance, telecommunications and utilities, covering statements and bills, marketing campaigns, trade confirmations and explanations of benefits, delivered digitally or physically through six automated production facilities across North America and managed on the Broadridge Communications Cloud. In August 2025 the company acquired a digital communications agency to widen that work and its presence in Europe.

Global Technology and Operations

Capital Markets Solutions processes trades, clearance and settlement in more than 100 markets, covering data management, securities financing and lending, collateral management, trade and transaction reporting, reconciliations, financial messaging and asset servicing. The post-trade platform is multi-entity and multi-currency, serving institutional, correspondent clearing, proprietary trading, prime brokerage, custody and primary dealer clients across equities, exchange-traded funds, options, mutual funds, bonds, mortgage-backed securities, structured products and foreign exchange. Its distributed ledger repo solution automates repo lifecycle processing using blockchain and smart contracts. The acquisition of CQG, an execution management system provider for futures and options participants, added execution management, algorithmic trading, market data and venue connectivity.

Wealth and Investment Management Solutions supplies front-to-back technology to full-service, regional and independent broker-dealers and investment advisors, including digital onboarding, advisor compensation, account transfer and servicing, portfolio and order management for traditional and alternative asset managers, and data aggregation for advisors. The company also runs business process outsourcing for buy- and sell-side clients, combining its technology with its own operations staff across clearing and settlement, reconciliations, record-keeping and custody-related functions.

From Broadridge's annual report on Form 10-K for the year ended 30 June 2026. The filing