Broadridge Turns to MX to Give Financial Advisors a 360-Degree View of the Client

“Investors today have an unprecedented level of control over their assets, but the current market environment has reminded us that it is still beneficial to have access to the personal touch of an advisor.”

Broadridge Financial Solutions has partnered with open finance specialist MX to utilize the company’s financial data aggregation and custom financial management automation solutions.

The move will help provide financial advisors with an innovative holistic view of all aspects of an investor’s financial journey, thereby optimizing advisor productivity and insights for client growth and transformation.

Full access to actionable information

With a 360° client view, financial advisors will have full access to actionable information about their clients’ assets and liabilities, better equipping them to provide relevant recommendations for long-term financial success—in other words, with financial insights. customized to scale.

Mike Alexander, President of Wealth Management at Broadridge, said: “Investors today have an unprecedented level of control over their assets, but the current market environment has reminded us that it is still beneficial to have access to the personal touch of an adviser.

“Through this strategic partnership with MX, we are ensuring that the advisor’s touch is not just personal, but also timely and driven by intelligence and data. By combining Broadridge’s expertise in investment data with MX’s deep understanding of frictionless money experiences, our financial advisor clients will now have access to a new comprehensive offering that provides a more personal and holistic view of financial planning.” .

Don Parker, Executive Vice President of Partnerships, MX, commented: “Our integration with Broadridge demonstrates our shared commitment to powering the open financial economy by empowering financial institutions and the investment community with data-driven insights. MX makes data accessible and actionable, and our partnership with Broadridge will help advisors and investors build a more robust and modern data infrastructure.”

The MX tools that are being integrated and built into Broadridge’s data aggregation solution will provide advisors with a robust set of financial wellness capabilities that are easy-to-use digital tools to provide insight into a client’s everyday financial life.

MX is run by Jim Magats

MX is now led by Jim Magats, who was named CEO in July and joined the fintech from Paypal, where he was most recently senior vice president of Omni Payments Solutions.

He spent 18 years as a senior executive at PayPal Inc., helping lead the company’s transformation into one of the most valuable and innovative fintech companies in the world. He was a member of PayPal’s 12-person operating group tasked with ensuring the organization met its strategic and financial objectives.

As Senior Vice President of Omni Payments Solutions, he oversaw PayPal’s open banking strategy and solutions, as well as a partner network of more than 150 financial institutions and networks.

In August, the firm hired ex-PayPal Wes Hummel as chief technology officer, in charge of overseeing the company’s information security and engineering teams and reporting to MX CEO Jim Magats.

Wes Hummel has spent the last 25 years building global engineering teams in financial services, most recently serving as PayPal’s Vice President of Site Reliability and Cloud Engineering. At Paypal, he was responsible for creating the vision and strategic direction for the company’s infrastructure and operations, with a strong emphasis on security, availability, quality, enablement, modernization, and efficiency.

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