Broadridge acquires retirement plan technology provider iJoin

Broadridge Financial Solutions (NYSE: BR) announced Sept. 9 it has acquired iJoin, a retirement plan technology provider that specializes in participant onboarding, engagement, and analytics solutions.

The acquisition combines iJoin's participant onboarding, managed accounts, and retirement income services with Broadridge's existing retirement plan investment servicing, custody, analytics, and participant communications solutions. iJoin's technology enables record keepers to streamline participant enrollment into 401k plans and helps asset managers and insurers deliver managed account and income solutions.

"There are strong synergies between iJoin's innovations in plan participant data aggregation and standardization, its managed account and income technologies, and Broadridge's retirement plan servicing capabilities," said Mike Tae, Group President of Funds, Issuer, and Data-driven Solutions at Broadridge.

Steve McCoy, CEO of iJoin, said the partnership with Broadridge creates opportunities to accelerate innovation and broaden the company's reach in delivering personalized retirement solutions.

The combined capabilities target record keepers, financial advisors, asset managers, and insurers in the retirement industry. iJoin's services help advisors identify participant groups and execute personalized education campaigns.

Broadridge stated the transaction is not expected to materially impact its financial results. The company did not disclose financial terms of the acquisition.

Broadridge processes over 7 billion communications annually and supports daily trading of over $15 trillion in securities globally. The New York-based financial technology company employs more than 15,000 associates across 21 countries and is included in the S&P 500 Index.

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