NEW YORK, NY -- (MARKET WIRE) -- 09/10/07 --
Broadridge Financial Solutions, Inc. (NYSE: BR) today announced an extension of their agreement with NewRiver, Inc. to
provide a database of disclosure documents to assist Broadridge in
electronic delivery of regulatory documents to investors.
For the past five years, Broadridge has worked with NewRiver and a select
number of Broadridge clients for e-delivery of confirming and first-dollar
prospectuses. "E-delivery provides another option for investors to receive
disclosure documents timely and in a form more appropriate to their needs.
We are excited about continuing to expand this offering to our entire
client base," says Gerard Scavelli, President, Information Distribution
Solutions, Broadridge.
Broadridge provides confirming and first-dollar in services for over 150
financial institutions. Over the last year, Broadridge has delivered more
than 57 million prospectuses in both electronic and traditional forms in a
very efficient and cost effective manner.
NewRiver sources 23,000 disclosure documents directly and daily from EDGAR,
the SEC's mutual fund database. As a result, Broadridge can deliver
compliant documents faster and more efficiently for its clients, while
their clients can provide greater convenience and better protection
downstream for investors with information that's timely and accurate.
Regulators and financial firms have begun to embrace the potential
advantages of electronic disclosure as the industry moves toward compliance
reform and simplified investor disclosure communication. "Broadridge's
large client base and NewRiver's innovative technology give the industry a
fast track to provide investors a choice of e-delivery," says Russell
Planitzer, NewRiver Chairman and Chief Executive Officer. "Offering
customers a preference in how they receive up-to-date compliance
information provides a more compelling industry solution."
About Broadridge
Broadridge Financial Solutions, Inc., formerly ADP Brokerage Services
Group, with nearly $2.0 billion in revenues and more than 40 years of
experience, is a leading global provider of technology-based outsourcing
solutions to the financial services industry. Our integrated systems and
services include investor communication, securities processing, and
clearing and outsourcing solutions. We offer advanced, integrated systems
and services that are dependable, scalable and cost-efficient. Our systems
help reduce the need for clients to make significant capital investments in
operations infrastructure, thereby allowing them to increase their focus on
core business activities. For more information about Broadridge, please
visit www.broadridge.com.
About NewRiver, Inc.
NewRiver, Inc. is the industry leader for electronic compliance and
intelligent document services for the financial brokerage and retirement
industries. NewRiver's solutions enable financial brokerages, retirement
plan providers, variable annuity providers, and retirement plan record
keepers to dramatically decrease operations expenses, to strengthen
customer and business partner relationships, and to improve the
productivity of their employees. NewRiver currently serves more than 100
top financial companies, including Allianz/USAllianz Securities; Coates
Analytics; E*Trade Securities; First Allied Securities; Lincoln Financial
Group; MFS Retirement Services; Park Avenue Securities, LLC, an indirect
Wholly-Owned Subsidiary of The Guardian Life Insurance Company of America;
Southwest Securities; UBS PaineWebber; and, Wachovia Securities. NewRiver
is headquartered in Andover, Massachusetts. For more information, please
visit www.newriver.com.
Forward-Looking Statements
This press release and other written or oral statements made from time to
time by representatives of Broadridge may contain "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995. Statements that are not historical in nature, such as our
fiscal 2007 guidance and our fiscal 2008 directional view, and which may be
identified by the use of words like "expects," "assumes," "projects,"
"anticipates," "estimates," "we believe," "could be" and other words of
similar meaning, are forward-looking statements. These statements are
based on management's expectations and assumptions and are subject to risks
and uncertainties that may cause actual results to differ materially from
those expressed. Factors that could cause actual results to differ
materially from those contemplated by the forward-looking statements
include: the ability of Broadridge to develop brand recognition and its
reputation with its clients and employees following its separation from ADP
in March 2007; Broadridge's success in obtaining, retaining and selling
additional services to clients; the pricing of Broadridge's products and
services; the incurrence of additional costs attributable to Broadridge's
operations as a stand-alone public company; Broadridge's ability to
continue to obtain data center services from ADP, as well as to obtain
transitional services from ADP for up to one year from the date of
Broadridge's spin-off from ADP; changes in laws affecting the investor
communications services provided by Broadridge; changes in laws regulating
registered clearing agencies and broker-dealers; Broadridge's debt levels
and financing costs, including the impact of its credit ratings on such
costs; overall market and economic conditions; competitive conditions;
financial market activity; changes in technology; availability of skilled
technical employees and the impact of new acquisitions and divestitures.
Broadridge disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events or
otherwise.
Press Contact:
Tony DeMeo
Broadridge
212-918-6919
Email Contact
For NewRiver, Inc.Chris McCoin or Richard SmithMcCoin & Smith Communications, LLC
508-429-5988 (Chris) or 978-433-3304 (Rick)
Email Contact or Email Contact