- Broadridge Financial Solutions ( NYSE: BR ) said Thursday it has partnered with IntraFi , a provider of balance sheet management and deposit allocation services to over 3K financial institutions nationwide, to provide the latter's network members its securities-based lending technology.
- The move comes in the wake of growing demand for wealth lending and securities-based lending. Through the Broadridge Wealth Lending Network, IntraFi members will be able to offer loans to customers of independent brokerage firms, financial advisors, and registered investment advisors.
- "This innovative joint solution for banks brings more capital to bear in the securities-based lending business and increases the potential to expand access to streamlined liquidity options through the Broadridge Wealth Lending Network," said Mike Alexander, president of Wealth Management, Broadridge.
- In October, Seeking Alpha contributor Evin Rohrbaugh justified shares of Broadridge with a Neutral rating given its "balanced approach of capital allocation."
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Broadridge Financial offers securities-based lending tech to IntraFi network