Financial technology provider Broadridge Financial Solutions, Inc. (NYSE:BR) has signed an agreement with financial services company SEI (NASDAQ: SEIC) that will provide SEI private banking clients access to Broadridge’s global securities class action services.
Through the new strategic partnership, SEI private banking clients can elect to utilize Broadridge’s services, which will monitor securities class action lawsuit settlements worldwide to spot opportunities to help recover funds for SEI clients and their customers. Broadridge’s solution includes case and settlement research, class action notifications and distribution, loss calculation, completion and submission of claims forms, collection of payments, and associated recordkeeping and reporting.
Sandy Ewing, senior vice president, TRUST 3000, SEI Private Banking, commented:
The securities class action space has become more complex and the need for an efficient, scalable and reliable provider with a proven track record is more important than ever. Broadridge has been a trusted partner for over 20 years. Global securities class action services is another example of Broadridge leading the industry with technology, service, and expertise that will ensure the highest level of satisfaction for the end-customer.”
Joseph Vicari, vice president of business development, Broadridge, added:
Securities class actions are an increasing area of focus for sophisticated investors, with billions of dollars in settlements that go unclaimed each year. We are pleased to offer SEI private banking clients the opportunity to efficiently and effectively manage the research, filing and recovery process.”
This new strategic partnership is an expansion of the proxy voting, corporate actions, first-dollar-in prospectus fulfillment and master-limited partnership tax reporting solutions Broadridge has provided to SEI and its clients for over 20 years. Effective immediately, SEI private banking clients will be able to select Broadridge as their provider of global securities class actions filing and recovery services.