Alexander joined Broadridge in 2006, having taken on roles of increasing responsibility in both technology platforms and managed services, including leading numerous complex client engagements and successful acquisitions. Prior to 2006, he was Senior Vice President of Operations at Charles Schwab. He is a member of the SIFMA Operations and Technology Steering Committee.
In this newly created position, Michael Alexander will be responsible for bringing together Broadridge’s Wealth solutions into an integrated, market-leading Wealth Management business that will uniquely address Wealth Management firms’ need to transform their technology and business models.
The newly appointed President of Wealth Management will report directly to Tom Carey, President of Global Technology and Operations. Alexander will take leadership of the Broadridge Wealth Platform, which is at the center of a recently announced sale to UBS. The platform enables wealth managers to drive their business to the next level while mutualizing investments in technology, innovation, and security.
The Broadridge Wealth Platform allows firms to deploy an integrated front-, middle-, and back-office solution that optimizes Financial Advisor productivity, as well as create a richer client experience and digitize enterprise-wide operations. Additionally, the platform offers component solutions for Advisor Websites, Data Aggregation, Performance Reporting, Corporate Actions, and back- and middle-office Managed Services, among others.
Tom Carey, President of Global Technology and Operations at Broadridge, commented: “Mike is a recognized leader in the financial services industry and has a passion for creating leading-edge, SaaS-based wealth management solutions,” said Mr. Carey. “Mike will drive Broadridge’s efforts to enhance the advisor and client experience through a single platform that will be a foundation for the industry.”
It was in late 2018 that Broadridge announced the strategic partnership where UBS Wealth Management USA became the anchor client on Broadridge’s new wealth management industry platform. The platform enabled UBS WM USA to provide unique value to its advisors while sharing the cost of adapting to ongoing technology innovation, regulatory and industry change, and cybersecurity requirements.
At the time of the announcement, Tom Naratil, Co-President, UBS Global Wealth Management and President, UBS Americas, said: “Broadridge is the right partner and the only Fintech leader with the proven technology, scale and experience to deliver such a transformational solution. This innovative partnership will build the next generation of technology to enhance advisor productivity, create a superior client experience and drive enterprise efficiency. This represents UBS’s forward-looking approach as we continue to take a leading role in redefining wealth management.”
Shifting expectations across generations, the evolution of advisors’ roles and traditional business models, regulatory compliance and a shift towards low-cost passive products. are driving rapid changes in wealth management. The Broadridge Wealth Platform addresses these new realities and is designed to create efficiencies and revenue opportunities for advisors as well as the enterprise at large.
The platform’s API structure enables seamless connectivity to UBS’s proprietary and third-party applications.
