Broadridge Financial Solutions, Inc. (BR): Business Model Canvas [Dec-2025 Updated]

You're digging into the engine room of the capital markets, and honestly, Broadridge Financial Solutions, Inc. is the essential utility you might overlook. This isn't just about printing proxies; for fiscal year 2025, they banked $6.889 billion in total revenue, with a massive $4.508 billion locked in through long-term contracts-that's the real moat. As a seasoned analyst, I see their model as a high-switching-cost fortress built on processing power and data, but the real question now is how their aggressive integration of AI and DLT will reshape their $5.700 billion operating expense base. Let's break down the nine blocks that keep this financial behemoth running so smoothly.

Broadridge Financial Solutions, Inc. (BR) - Canvas Business Model: Key Partnerships

You're looking at how Broadridge Financial Solutions, Inc. builds its ecosystem through external relationships, which is crucial for scaling its platform business. Here are the hard numbers reflecting these key alliances as of late 2025.

Strategic alliances with FinTech firms like BMLL and Uptiq

The partnership with Uptiq, announced in August 2025, included a minority investment (the specific amount was not disclosed) to integrate its AI platform into Broadridge's Wealth Lending Network (WLN). This move targets the automation of securities-based lending (SBL) workflows for financial advisors and banks.

The company continues to engage with FinTechs like BMLL, focusing on areas like capital markets innovation. Broadridge also announced in Q1 Fiscal 2026 the acquisition of iJoin, a retirement plan technology provider, and Signal, a UK-based omni-channel communications services provider, further expanding its partnership/acquisition footprint.

Global technology providers like Kyndryl for infrastructure services

The acquisition of Kyndryl's Securities Industry Services (SIS) platform, completed in November 2024, cemented a key partnership where Kyndryl provides managed services and capabilities to the acquired SIS business. This integration is already showing up in the numbers; in the first quarter of Fiscal 2026, the Kyndryl SIS acquisition contributed 6 points to the 13% growth in Global Technology and Operations (GTO) segment recurring revenues, which reached $459 million.

Broker-dealers and banks for distribution of regulatory communications

Broadridge Financial Solutions, Inc. underpins global communications, processing and generating over 7 billion communications annually and supporting the daily average trading of over $15 trillion in securities globally. These broker-dealers and banks are the core recipients of its Investor Communication Solutions (ICS) segment, which saw recurring revenues of $2.732 billion in Fiscal 2025.

Data and analytics partners like AdvisorTarget for advisor insights

While specific financial metrics tied directly to the AdvisorTarget partnership aren't public, the overall strategy is supported by Broadridge's scale. In Fiscal 2025, the company delivered $4.508 billion in Recurring revenues, which is a 7% increase year-over-year, demonstrating the value derived from its data-driven solutions across the ecosystem.

European fund distribution networks via Acolin acquisition

The July 2025 agreement to acquire Acolin significantly bolsters this area. Acolin brings a network serving over 350 clients and providing access to over 3,000 distributors across 30+ countries. This is being integrated with Broadridge's existing fund services, which track $110 trillion in assets under management (AUM).

The following table summarizes the scale and impact of these key external relationships and integrations:

Partner/Acquisition	Metric	Value/Scope	Date Context
Acolin Acquisition	Clients Added	Over 350	July 2025
Acolin Acquisition	Distributor Access Gained	Over 3,000 across 30+ countries	July 2025
Broadridge Existing Fund Services	Assets Under Management (AUM) Tracked	$110 trillion	Pre-Acolin Integration
Kyndryl SIS Acquisition	Contribution to GTO Recurring Revenue Growth (Q1 FY26)	6 points	Q1 FY2026
Uptiq Partnership	Investment Type	Minority Investment (Amount Undisclosed)	August 2025
Overall Operations	Annual Communications Processed	Over 7 billion	Late 2025

The firm's Fiscal 2025 performance, which saw Recurring revenues hit $4.508 billion and Adjusted EPS reach $8.55, is the foundation upon which these partnerships are built and expanded. Furthermore, the annual dividend was increased by 11% to $3.90 per share for Fiscal 2026.

You can see the direct financial impact of integrating acquired technology, like the Kyndryl SIS business, which helped drive the GTO segment's recurring revenue growth to 13% in the first quarter of Fiscal 2026.

The overall scale of Broadridge Financial Solutions, Inc. is massive; its platforms underpin the daily average trading of over $15 trillion in global securities.

Finance: review the integration budget for the Acolin acquisition by end of Q2 2026.

Broadridge Financial Solutions, Inc. (BR) - Canvas Business Model: Key Activities

You're looking at the core engine room of Broadridge Financial Solutions, Inc. (BR), the activities that keep the global financial plumbing running. It's all about scale, speed, and embedding new tech into mission-critical processes. Here's the breakdown of what they are actively doing as of late 2025.

Processing and distributing over 90% of North American equity proxies

The sheer volume handled in governance is staggering, showing deep entrenchment in the proxy process. For the 2025 proxy season, Broadridge Financial Solutions, Inc. processed a record-high of 544 billion shares and supported 4,245 shareholder meetings. This activity is heavily digitized; 90% of all communications processed were digital, resulting in an estimated $5 billion in cost savings on paper and postage for issuers and funds. Furthermore, 97% of the shares voted through their systems were voted electronically. They supported a record 1,931 virtual shareholder meetings (VSMs) in the first half of 2025, with 99.92% of shares processed on a straight-through basis for routine meetings, which is crucial for vote assurance.

The financial performance tied to this segment reflects this activity:

• For the second quarter of fiscal year 2025, Recurring revenues were $980 million, marking a 9% increase year-over-year.
• Fiscal Year 2025 Recurring revenues grew 7% on a reported and constant currency basis.
• The company reaffirmed its fiscal 2025 guidance for Recurring revenue growth at 6-8% constant currency.
• Fiscal year 2026 guidance projects 5-7% Recurring revenue growth constant currency.

Developing and integrating AI and Distributed Ledger Technology (DLT) solutions

Innovation here is focused on tokenization and generative AI, moving beyond concept to actual institutional scale. For instance, Broadridge Financial Solutions, Inc.'s Distributed Ledger Repo (DLR) platform processed an average of $368 billion in daily repo transactions during November 2025, with total volumes reaching $7.4 trillion for the month. That daily average represents a 466% increase compared to November 2024. On the AI front, Broadridge's 2025 Digital Transformation Study indicated that 72% of financial firms are making moderate to large investments in Generative AI this year, up from 40% in 2024. They are implementing AI solutions like Bond GPT to enhance trading efficiency in Capital Markets.

Providing mission-critical post-trade processing for capital markets

This is the backbone activity, processing massive amounts of securities transactions daily. Broadridge Financial Solutions, Inc.'s technology and operations platforms underpin the daily average trading of over $15 trillion in equities, fixed income, and other securities globally. These same platforms process and generate over 7 billion communications annually for their clients. The firm was recognized as a Leader in the IDC MarketScape: Worldwide Wealth Management Technology Services for Investment Advisors 2025 Vendor Assessment, which specifically noted its capabilities spanning front-, middle-, and back-office functions.

Executing strategic acquisitions and integrating new businesses (e.g., SIS, Acolin)

Strategic M&A is used to fill capability gaps and expand geographic reach, particularly in Europe. The acquisition of SIS was cited as a driver for Recurring revenue growth in Q2 FY25. The planned acquisition of Acolin is designed to enhance European footprint and compliance capabilities. Here are the key figures related to the Acolin integration:

Metric	Broadridge European Fund Services (Pre-Acolin)	Acolin	Expected Closing
Asset Managers Supported	Nearly 500	Over 350 clients	First half of FY2026
Assets Tracked / Distributors Access	$110 trillion AUM	Access to over 3,000 distributors	Not materially impactful on near-term results

The financial details of the Acolin deal were not disclosed, and the transaction is not expected to have a material impact on Broadridge's financial results.

Maintaining and enhancing proprietary technology platforms

The commitment to platform enhancement is reflected in financial results and external validation. Broadridge Financial Solutions, Inc. employs over 15,000 associates across 21 countries, supporting this global technology infrastructure. For fiscal year 2025, Adjusted EPS grew 11% to $8.55, and Closed sales were $288 million, demonstrating the commercial success of their offerings. The company also showed confidence by raising its annual dividend 11% to $3.90 per share, marking the 19th consecutive annual increase.

The ongoing investment supports platform reliability, as seen in the Q2 FY25 results where Adjusted Operating Income (Non-GAAP) rose 51% to $263 million from $174 million in the prior year period.

Broadridge Financial Solutions, Inc. (BR) - Canvas Business Model: Key Resources

You're looking at the core assets that make Broadridge Financial Solutions, Inc. a utility for global finance. These aren't just assets on a balance sheet; they are the infrastructure and the expertise that lock in clients for the long haul. Honestly, when you see the scale, it's clear why their revenue is so sticky.

Proprietary technology platforms and intellectual property (IP)

The technology stack is central, especially as the industry shifts toward digital assets and AI. Broadridge Financial Solutions, Inc. has been recognized as a Leader in the inaugural IDC MarketScape: Worldwide Wealth Management Technology Services for Investment Advisors 2025 Vendor Assessment, evaluated in October 2025. This recognition speaks to the strength of their integrated, front-to-back wealth platform.

Investment in next-generation tech is significant. For instance, in Capital Markets, they are implementing AI solutions like Bond GPT to boost trading efficiency. Furthermore, a 2025 study by Broadridge Financial Solutions, Inc. itself found that 72% of financial services firms are making moderate to large investments in Generative AI this year.

The platform's architecture is designed for flexibility, supporting modernization with an open, component-based structure.

Extensive data on over $110 trillion in assets under management

The sheer volume of data processed and analyzed is a massive barrier to entry for competitors. Broadridge Financial Solutions, Inc.'s capabilities include AI-powered forecasting across more than $100 trillion in addressable assets worldwide, as noted in their 2025 Annual Report. This data foundation underpins their intelligence services.

This data scale is also evident in their operational metrics:

Metric	Value (2025 Fiscal Year/Season)
Shares Processed (Proxy Season)	Record 544 billion shares
Communications Processed Annually	Over 7 billion communications
Daily Average Trades Underpinned	More than $15 trillion of equities and fixed income trades

Global network connecting issuers, investors, and financial intermediaries

The network effect is powerful because Broadridge Financial Solutions, Inc. acts as the essential utility connecting nearly every part of the ecosystem. They process and generate over 7 billion communications annually for their clients.

Consider the scale of their governance role during the 2025 proxy season:

• 90% of all communications processed were digital, a record high.
• This digital shift resulted in an estimated $5 billion in cost savings for issuers and funds on paper and postage.
• They supported a record 1,931 virtual shareholder meetings (VSMs) in the first half of 2025.

This network is global, with operations spanning 21 countries.

Highly specialized financial and technical talent

The intellectual capital is the engine running these massive platforms. Broadridge Financial Solutions, Inc. employs over 15,000 associates globally. This talent base is crucial for maintaining and innovating the complex systems that process trillions in trades daily.

The firm's focus on talent is also reflected in its culture; Broadridge Financial Solutions, Inc. is a certified Great Place to Work. Keeping this specialized talent engaged is key to maintaining their leadership position in areas like AI and digital assets.

Long-term, high-value client contracts

The business model is heavily reliant on recurring revenue, which provides the stability to fund continuous, heavy investment in technology. For the fiscal year 2025, Recurring revenues grew 7%, reaching $4,508 million. This is a testament to the stickiness of their core services.

New business generation, which feeds future recurring revenue, was also solid:

The Closed sales figure for the full fiscal year 2025 was $288 million. This metric shows the value of new contracts signed during the period. Furthermore, the commitment to shareholders, which reflects management's confidence in these long-term cash flows, is underscored by the 11% increase in the annual dividend to $3.90 per share, marking the 19th consecutive annual dividend increase. If onboarding takes 14+ days, churn risk rises, but their established relationships suggest this is not a near-term issue.

Broadridge Financial Solutions, Inc. (BR) - Canvas Business Model: Value Propositions

You're looking at the core reasons why financial institutions rely on Broadridge Financial Solutions, Inc. to handle their most critical, high-volume processes. It's about taking complexity and making it routine, which is a massive value proposition in this industry.

Digitization and automation of complex, regulated financial workflows

Broadridge Financial Solutions, Inc. delivers the infrastructure that allows firms to move away from manual, error-prone processes. The industry focus is clearly shifting, with financial services technology and operations leaders expecting to allocate 29% of their total IT spend to technology innovation over the next two years, which is an increase of seven percentage points from last year's study. This push is heavily focused on automation, evidenced by 72% of firms making moderate to large investments in Generative AI (GenAI) this year, up significantly from 40% in 2024.

The expected return is productivity and efficiency. More than two-thirds (68%) of respondents believe GenAI will improve employee productivity, and 35% expect to start seeing ROI from these GenAI investments within six months. Furthermore, the industry is embracing digital assets, with 71% of firms making major investments in blockchain and Distributed Ledger Technologies (DLT).

• 87% of asset managers are currently leveraging cloud platforms and applications.
• 89% of firms plan to increase their investment in cybersecurity technology.
• 86% of firms plan to increase their investments in AI over the next two years.

Simplified and modernized wealth management and advisory platforms

For wealth managers, the value is in a comprehensive, integrated platform that reduces vendor sprawl and boosts advisor effectiveness. Broadridge Financial Solutions, Inc. was recognized as a Leader in the inaugural IDC MarketScape: Worldwide Wealth Management Technology Services for Investment Advisors 2025 Vendor Assessment for both Capabilities and Strategy. This platform is designed to simplify vendor landscapes through its open, component-based architecture, which was enhanced by strategic acquisitions like RPM's enterprise wealth system.

The scale of operations powered by Broadridge Financial Solutions, Inc. speaks directly to the reliability of this modernization effort. They are a trusted partner underpinning the daily average trading of over $15 trillion in equities, fixed income, and other securities globally.

Reduced operational risk and cost for post-trade capital markets processing

In capital markets, the value proposition centers on reducing risk and increasing efficiency in high-volume post-trade activities, especially as transaction volumes accelerate. Asset servicing volumes, for instance, have surged by more than 25% year-over-year. Legacy technology and poor data quality are major risks, with 40% of executives reporting persistent data quality issues and 46% feeling legacy tech is hurting resiliency.

Broadridge Financial Solutions, Inc. is demonstrating success in mitigating this risk through DLT adoption. In November 2025, their Distributed Ledger Repo (DLR) platform processed an average of $368 billion in daily repo transactions, a 466% increase from November 2024. Total DLR volumes for that month reached $7.4 trillion. This shows a clear move toward real-time settlement, which inherently reduces counterparty and operational risk.

Here's a snapshot of the operational scale Broadridge Financial Solutions, Inc. manages:

Metric	Value (Latest Available Data)	Context
Daily Average Trading Underpinned	Over $15 trillion	Equities, fixed income, and other securities globally
November 2025 DLR Daily Average Volume	$368 billion	Repo transactions on the Distributed Ledger Repo platform
Asset Servicing Volume Growth (YOY)	Over 25%	Reflecting accelerating market activity
FY2025 Recurring Revenue	$4.508 billion	Reported growth of 7% constant currency
Associates Employed	Over 15,000	Across 21 countries

Regulatory compliance and transparency for global fund distribution

Compliance is non-negotiable, and Broadridge Financial Solutions, Inc. provides services that meet stringent regulatory standards while improving transparency. For the 2025 proxy season, their administration of shareholder communications and proxy voting achieved a near-perfect rating of 7.98 on an 8 point scale, validating their service delivery and compliance practices.

A key component of this value is the shift to digital communications, which directly impacts cost and regulatory adherence. 90% of the communications processed were digital, leading to an estimated $5 billion in cost savings on paper and postage for issuers and funds. Furthermore, physical processing turnaround time averaged 1.8 days, which is well under the regulatory threshold of 5 days. Robust vote assurance is also a feature, with 99.92% of shares processed on a straight-through basis.

• Recurring revenue for Regulatory services grew 7% in Fiscal Year 2025.
• Recurring revenue for Regulatory services rose 4% in the first quarter of Fiscal Year 2026.

Actionable data and analytics for asset and wealth manager sales targeting

The value here is turning raw data into insights that drive revenue, particularly in fund distribution. Asset managers are heavily investing in tools to make better sales decisions, with 89% making moderate or large-scale investments in advanced analytics and data visualization tools. Broadridge Financial Solutions, Inc. supports this with data-driven fund solutions.

The financial results reflect the demand for these insights. Data-driven fund solutions recurring revenue grew 6% in Fiscal Year 2025. More recently, in the first quarter of Fiscal Year 2026, this recurring revenue stream rose 3%. Additionally, 43% of asset managers have leveraged AI to improve marketing and external communications, which is a direct application of the actionable data Broadridge Financial Solutions, Inc. helps provide.

Broadridge Financial Solutions, Inc. (BR) - Canvas Business Model: Customer Relationships

You're looking at how Broadridge Financial Solutions, Inc. locks in its client base, which is defintely key given the mission-critical nature of their services. The relationships are built on long-term contracts, making it costly for a large financial institution to switch providers.

Long-term, contractual relationships with high switching costs

The stability of the revenue stream speaks volumes about these relationships. For fiscal year 2025, Recurring revenues grew 7% on a reported basis, reaching $4,508 million. This recurring revenue forms the anchor of the business, representing 94% of the total revenue base as of Q3 fiscal year 2025. Furthermore, the revenue retention rate remained high at 98% in Q3 fiscal year 2025, which signals very low client churn. This sticky revenue base is supported by the sheer scale of operations Broadridge manages daily.

Metric	Value (FY 2025)	Source Context
Total Revenues	$6,889 million	FY 2025 total revenue
Recurring Revenues	$4,508 million	FY 2025 recurring revenue amount
Recurring Revenue Growth (Constant Currency)	7%	FY 2025 growth rate
Revenue Retention Rate	98%	Q3 FY2025 rate

Dedicated client service teams for large financial institutions

The infrastructure supporting these relationships is massive, implying dedicated resources for major clients. Broadridge Financial Solutions, Inc. employs over 15,000 associates across 21 countries as of late 2025. Their technology platforms underpin the daily average trading of more than $15 trillion of equities and fixed income trades globally. They process and generate over 7 billion communications per year. This level of volume and criticality necessitates a high-touch service model for their largest partners.

Consultative selling of integrated, modular solutions

The sales activity shows a focus on securing future recurring revenue through new business wins. For the full fiscal year 2025, Closed sales totaled $288 million. The first quarter of fiscal year 2026 saw Closed sales of $33 million. This selling motion is about integrating modular solutions across governance, capital markets, and wealth management. For instance, in the Wealth and Investment Management product line during Q4 fiscal year 2025, recurring revenue growth was 10%, which included 10 percentage points from the acquisition of SIS and 1 percentage point from Organic growth.

Continuous innovation and platform upgrades (e.g., API integration)

Innovation is directly tied to client adoption and platform usage, which keeps the integrated solutions relevant. Broadridge's Distributed Ledger Repo (DLR) platform processed $368 billion in Average Daily Trade Volumes as of November 2025. In a specific example of rapid deployment for regulatory needs, Broadridge onboarded seven clients in just five months for their EU Instant Payments service ahead of the October 2025 deadline. This solution processes transactions in under 10 seconds.

High-touch support for mission-critical, regulated services

The proxy season is a prime example of mission-critical, regulated service delivery where high-touch support is non-negotiable. During the 2025 proxy season, Broadridge Financial Solutions, Inc. processed a record-high 544 billion shares. They supported 4,245 shareholder meetings. Operational excellence in this area is quantified:

• 90% of the communications processed were digital, a record high.
• Issuers and funds realized an estimated $5 billion in cost savings on paper and postage due to digital conversion.
• Physical processing turnaround time averaged 1.8 days, which is well under the regulatory threshold of 5 days.
• End-to-end vote confirmation achieved 99.92% of shares processed on a straight-through basis.
• They supported a record 1,931 virtual shareholder meetings (VSMs) in the first half of 2025.

Finance: draft 13-week cash view by Friday.

Broadridge Financial Solutions, Inc. (BR) - Canvas Business Model: Channels

You're looking at how Broadridge Financial Solutions, Inc. gets its value proposition to the market, and frankly, it's a massive, multi-pronged operation touching nearly every major financial player. It's not just about sending paper anymore; it's about digital scale and deep integration.

Direct sales force targeting C-suite and technology leaders

The sales engine for Broadridge Financial Solutions, Inc. is clearly geared toward securing large, recurring revenue contracts, which you can see reflected in their bookings. For the full Fiscal Year 2025, the company reported $288 million in Closed sales. Looking ahead, the guidance for Fiscal Year 2026 Closed sales is set in the range of $290 million to $330 million. This indicates a consistent, high-value direct engagement strategy aimed at securing future recurring revenue streams across their Investor Communication Solutions (ICS) and Global Technology and Operations (GTO) segments.

Proprietary software platforms and Application Programming Interfaces (APIs)

The platform itself is a key channel, especially for modernizing wealth management and capital markets. Broadridge Financial Solutions, Inc. has actively developed a platform designed to standardize APIs and utilize a shared data model to speed up scaling and integration of new technologies. This focus aligns with industry trends; a late 2025 study indicated that 87% of asset managers are leveraging cloud platforms and applications, which is the environment where these proprietary platforms live. The company is pushing its next-generation front-to-back technology in Wealth Management as a direct channel to advisors.

Integrated B2B connections with client back-office systems

The depth of integration is a core channel strength, essentially embedding Broadridge Financial Solutions, Inc. into the plumbing of the financial system. Their technology and operations platforms are reported to underpin the daily average trading of over $15 trillion in equities, fixed income, and other securities globally as of late 2025. Furthermore, the pressure on these connections is mounting; a global study revealed that asset servicing volumes surged by more than 25% year-over-year, which demands the real-time straight-through processing that these B2B connections facilitate. The Customer Communications segment saw its recurring revenues grow by 5% for the full Fiscal Year 2025.

Digital and physical distribution of investor communications

This is where the sheer volume of their channel activity becomes apparent, particularly during the proxy season. You can see the massive scale of their digital adoption right here. Here's the quick math on the 2025 Proxy Season:

Metric	Amount/Percentage
Total Shares Processed	544 billion shares
Digital Communications Rate	90% of all communications
Electronic Share Votes	Over 97% of voted shares
E-delivery of Retail Positions	Over 255 million positions
Online Shareholder Meetings Held	1,931 meetings

The technology platforms process and generate over 7 billion communications per year. For the full Fiscal Year 2025, Distribution revenues reached $2,062 million, though this was partially offset by lower mail volumes despite postage rate increases.

Global data and analytics feeds

Data and analytics are delivered as a channel through specialized solutions, driving insights for clients. The Regulatory business line, which relies heavily on position data feeds, saw its Fiscal Year 2025 Recurring revenue grow by 7%. This growth was supported by specific position increases:

• Equity position growth: 16% in Fiscal Year 2025.
• Mutual fund/ETF position growth: 7% in Fiscal Year 2025.

To be fair, the demand for these insights is high; the same 2025 study mentioned earlier found that 89% of asset managers are making moderate or large-scale investments into advanced analytics and data visualization tools, which Broadridge Financial Solutions, Inc. is positioned to serve.

Finance: draft 13-week cash view by Friday.

Broadridge Financial Solutions, Inc. (BR) - Canvas Business Model: Customer Segments

You're looking at the core client base for Broadridge Financial Solutions, Inc. as of late 2025. This is where the real action is, the firms that rely on their infrastructure to keep the markets moving.

Global Tier-1 Investment Banks and Broker-Dealers

This group is central to the Global Technology and Operations (GTO) segment, especially for capital markets solutions. Broadridge Managed Services currently oversees 30 broker dealers. These clients manage over $600 billion in assets and process approximately ~2 million daily trades. Furthermore, the operations Broadridge handles settle nearly $11 trillion in assets every month, representing 20% of the daily US institutional fixed income trade volume. Capital Markets recurring revenue growth in Q1 Fiscal Year 2026 rose by 8%.

Asset Managers and Fund Companies (e.g., mutual funds, ETFs)

Asset Managers and Fund Companies are key users of the Investor Communication Solutions (ICS) and data/analytics products. Broadridge's infrastructure links thousands of mutual funds and ETFs to millions of investors. For the full Fiscal Year 2025, the mutual fund/ETF position growth was 7%. A recent Broadridge study indicated that 83% of asset managers plan to increase their spending on innovation over the next two years. The average asset management fees in 2023 were 21 basis points (bps), down from 26 bps in 2020.

• Mutual fund/ETF position growth (Q1 FY2026): 2%
• Data-driven fund solutions recurring revenue growth (FY 2025): 6%
• Asset Managers served: 30,000+

Wealth Management and Advisory Firms

Broadridge Financial Solutions, Inc. provides technology-driven solutions to wealth managers, including data aggregation and digital marketing capabilities. Financial advisors use their tools for customer account data aggregation, performance reporting, and integration with planning applications. The wealth and investment management recurring revenue growth for Fiscal Year 2025 saw a 10% increase, which included 10pts from the SIS acquisition.

Here's a quick look at the scale of their involvement in the wealth space, though direct segment revenue splits aren't always public:

Metric	Value/Rate (Latest Available)
Wealth and Investment Management Recurring Revenue Growth (FY 2025)	10%
Financial Advisors Served	200,000+
Digital Marketing/Content Users	Financial Advisors and Wealth Management Firms

Corporate Issuers and Public Companies

This segment drives the Issuer business line within ICS, focusing on corporate governance and shareholder communications. Broadridge's infrastructure serves as a global communications hub linking thousands of public companies to tens of millions of investors. For Fiscal Year 2025, the Issuer recurring revenue growth was 5%. In Q1 Fiscal Year 2026, Issuer recurring revenue growth was reported at 6%.

• Corporate Issuers Linked: 10,000+
• Shareholder Engagement Solutions Growth (FY 2025): Contributed to 5% Issuer growth
• Disclosure Solutions Growth (Q1 FY2026): Contributed to 6% Issuer growth

Institutional Investors and Custodians

Institutional investors are reached through the infrastructure that underpins trading and communications. Broadridge's technology and operations platforms underpin the daily average trading of over $15 trillion of securities globally. The company supports institutional asset managers, public funds, and global hedge fund complexes. The total number of institutional shareholders served is over 120,000.

The overall scale of Broadridge Financial Solutions, Inc. in late 2025 is substantial, with Fiscal Year 2025 Total Revenues reaching $6,889 million and Recurring Revenues hitting $4,508 million. They process and generate over 7 billion communications annually, which touches every major client type listed here.

Broadridge Financial Solutions, Inc. (BR) - Canvas Business Model: Cost Structure

You're looking at the engine room of Broadridge Financial Solutions, Inc.'s operations, where the money actually goes out the door. Understanding this structure is key to seeing where their margins come from, especially given the high-tech nature of their work.

The foundation of the cost structure involves significant, non-negotiable outlays. You see high fixed costs for technology infrastructure and data center operations, which are necessary to run the massive, always-on platforms that process trillions of dollars in transactions and communications daily. These are the costs that don't easily shrink when revenue dips.

For the fiscal year ending in 2025, the reported Operating Expenses were calculated to be $5.700 billion, derived from the Total Revenue of $6.889 billion minus the Operating Income of $1.189 billion. To be fair, the twelve months ending June 30, 2025, showed slightly higher operating expenses at $5.701B, showing the scale we are dealing with.

A major component of the variable and strategic spending is the significant investment in Research and Development (R&D) for AI and DLT (Distributed Ledger Technology). While specific R&D dollar amounts for Broadridge Financial Solutions, Inc. aren't always broken out clearly in the top-line reports, the industry focus they report on is telling. For instance, their 2025 study indicated that financial firms expect to allocate 29% of total IT spend to technology innovation over the next two years, and 80% of firms are making moderate-to-large investments in AI this year. Also, 71% of firms are making major investments in blockchain and DLT. This signals where Broadridge Financial Solutions, Inc. must spend to stay competitive.

The largest single bucket of expense, naturally, is for the people running the show. This includes personnel costs for specialized software engineers and financial experts. These are the high-value salaries needed to maintain and evolve complex regulatory reporting, trading, and communication platforms. It's a talent war out there, and that shows up directly in the operating expenses.

You also have to account for the variable costs for distribution, which fluctuate with client activity and external market factors. A concrete example is the impact of postage. For the fourth quarter of fiscal year 2025, operating expenses rose due to the impact of the postage rate increase, among other things. Similarly, in the first quarter of fiscal year 2026 (ending September 30, 2025), operating expenses rose by $84 million, driven in part by the postage rate increase and volume-related expenses. This shows how external, non-controllable costs directly hit the bottom line.

Here's a quick look at how the major financial components stack up for the full fiscal year 2025:

Cost Component Category	Reported/Calculated Amount (FY 2025)	Source Reference Period
Total Operating Expenses	$5.700 billion	FY 2025 Calculation
Total Operating Expenses (TTM)	$5.701 billion	Twelve Months ending June 30, 2025
Total Revenue	$6.889 billion	FY 2025
Operating Income	$1.189 billion	FY 2025

The nature of these costs means Broadridge Financial Solutions, Inc. needs consistent, high-volume recurring revenue to cover the fixed technology base and the ongoing talent acquisition required for innovation. The cost structure is inherently geared toward scale.

Key cost drivers that impact the operating expense line include:

• Fixed investment in core technology platforms.
• Salaries for specialized engineers and data scientists.
• Variable impact from postal rate adjustments.
• Strategic spending on AI and DLT modernization.
• Costs associated with acquisitions, like the SIS business in Q1 FY2026.

Finance: draft 13-week cash view by Friday.

Broadridge Financial Solutions, Inc. (BR) - Canvas Business Model: Revenue Streams

You're looking at how Broadridge Financial Solutions, Inc. actually brings in the money, which is key for any valuation, defintely. As of late 2025, the model leans heavily on long-term commitments.

Recurring revenues form the bedrock. For Fiscal Year 2025, these hit $4,508 million, marking a 7% increase over the prior year. This stream is driven by Net New Business and Internal Growth across their core segments.

Event-driven revenues are tied to market activity, so they fluctuate more. In FY 2025, this segment brought in $319 million, which was up 12% year-over-year, helped by a higher volume of mutual fund communications.

Distribution revenues, which include printing and mailing services, totaled $2,062 million for the full fiscal year 2025. This stream saw a 3% increase, largely due to the impact of postage rate increases of approximately $114 million, even with lower mail volumes.

Here's a quick look at the main FY 2025 revenue components:

Revenue Stream	FY 2025 Amount (Millions USD)	Year-over-Year Change
Recurring revenues	$4,508	7%
Distribution revenues	$2,062	3%
Event-driven revenues	$319	12%
Total Revenues	$6,889	6%

Software-as-a-Service (SaaS) and subscription fees for platforms are embedded within that large Recurring revenue number. The growth in this area is tied to the 7% Recurring revenue growth constant currency, which management attributes to organic growth and acquisitions in the Global Technology and Operations segment.

Professional services and consulting fees aren't broken out separately in the top-line summaries, so you should assume these are bundled into the Recurring revenue stream, supporting the long-term contract value. The focus for growth here is on selling additional services to existing clients, as evidenced by the $288 million in Closed sales for FY 2025.

• Recurring revenue growth constant currency (FY 2025): 7%.
• FY 2026 Recurring revenue guidance: 5-7% growth constant currency.
• FY 2025 Diluted EPS: $7.10.
• FY 2025 Adjusted EPS: $8.55.

Finance: draft 13-week cash view by Friday.