Wilmington Trust Retirement and Institutional Services Integrated with Broadridge Matrix Financial Solutions
LAKE SUCCESS, N.Y: Broadridge Financial Solutions, successfully acquires the Wilmington Trust Retirement and Institutional Services unit of M&T Bank Corporation. The latest addition will be integrated with Broadridge's Matrix Financial Solutions, mutual fund and ETF trade processing platform that that will service more than $300 billion in assets under administration.
Matrix Financial Solutions delivers their flagship solution TrueOpen products and services for multitude of sectors like financial professionals, including third party administrators, recordkeepers, financial advisors, broker/dealers, mutual fund providers, insurance providers, banks, and others.
"The addition of Wilmington's products and service team to Matrix's open-architecture platform enables us to expand our retirement solutions offering and provide comprehensive support for the growing qualified and non-qualified plan services market," says Gerard F. Scavelli, President of Broadridge's Mutual Funds and Retirement Solutions Group.
The acquired trade processing business will be integrated into the Matrix Financial Solutions business of Broadridge's Mutual Funds and Retirement Solutions Group.