U.S.-based fintech Broadridge Financial announced on Monday it has completed its acquisition of RPM Technologies, a Canadian wealth management technology provider. Broadridge revealed it was acquiring the company last month for approximately $300 million. Broadridge stated at the time:
“Building on Broadridge’s strong Canadian Wealth Management business, the acquisition will bring important new capabilities and next-generation technology to both RPM’s and Broadridge’s clients.”
Tom Carey, President of Global Technology and Operations at Broadridge, also explained:
“The addition of RPM Technologies broadens and deepens our wealth management product offering in Canada. We are very pleased to add RPM’s state-of-the-art platforms and blue-chip client roster. This investment underscores our commitment to bring value-added technology solutions to the industry, and it supports our longer-term strategy of building a strong North American Wealth business.”
Broadridge then noted that RPM’s technology platforms support over 15 million customer accounts and build on Broadridge’s Canadian wealth management business, providing a solution set for the retail banking sector and adding enhanced mutual fund and deposit manufacturing capabilities. The company added:
“RPM has proven capabilities in the Mutual Fund Dealers Association of Canada marketplace with a suite of services and solutions and a successful track record of winning and on-boarding new clients.”