SOURCE: Broadridge Financial Solutions, Inc.

September 10, 2007 08:00 ET

Broadridge and NewRiver Extend Agreement on Disclosure Document E-Delivery Solution

NEW YORK, NY--(Marketwire - September 10, 2007) - Broadridge Financial Solutions, Inc. (NYSE: BR) today announced an extension of their agreement with NewRiver, Inc. to provide a database of disclosure documents to assist Broadridge in electronic delivery of regulatory documents to investors.

For the past five years, Broadridge has worked with NewRiver and a select number of Broadridge clients for e-delivery of confirming and first-dollar prospectuses. "E-delivery provides another option for investors to receive disclosure documents timely and in a form more appropriate to their needs. We are excited about continuing to expand this offering to our entire client base," says Gerard Scavelli, President, Information Distribution Solutions, Broadridge.

Broadridge provides confirming and first-dollar in services for over 150 financial institutions. Over the last year, Broadridge has delivered more than 57 million prospectuses in both electronic and traditional forms in a very efficient and cost effective manner.

NewRiver sources 23,000 disclosure documents directly and daily from EDGAR, the SEC's mutual fund database. As a result, Broadridge can deliver compliant documents faster and more efficiently for its clients, while their clients can provide greater convenience and better protection downstream for investors with information that's timely and accurate.

Regulators and financial firms have begun to embrace the potential advantages of electronic disclosure as the industry moves toward compliance reform and simplified investor disclosure communication. "Broadridge's large client base and NewRiver's innovative technology give the industry a fast track to provide investors a choice of e-delivery," says Russell Planitzer, NewRiver Chairman and Chief Executive Officer. "Offering customers a preference in how they receive up-to-date compliance information provides a more compelling industry solution."

About Broadridge

Broadridge Financial Solutions, Inc., formerly ADP Brokerage Services Group, with nearly $2.0 billion in revenues and more than 40 years of experience, is a leading global provider of technology-based outsourcing solutions to the financial services industry. Our integrated systems and services include investor communication, securities processing, and clearing and outsourcing solutions. We offer advanced, integrated systems and services that are dependable, scalable and cost-efficient. Our systems help reduce the need for clients to make significant capital investments in operations infrastructure, thereby allowing them to increase their focus on core business activities. For more information about Broadridge, please visit

About NewRiver, Inc.

NewRiver, Inc. is the industry leader for electronic compliance and intelligent document services for the financial brokerage and retirement industries. NewRiver's solutions enable financial brokerages, retirement plan providers, variable annuity providers, and retirement plan record keepers to dramatically decrease operations expenses, to strengthen customer and business partner relationships, and to improve the productivity of their employees. NewRiver currently serves more than 100 top financial companies, including Allianz/USAllianz Securities; Coates Analytics; E*Trade Securities; First Allied Securities; Lincoln Financial Group; MFS Retirement Services; Park Avenue Securities, LLC, an indirect Wholly-Owned Subsidiary of The Guardian Life Insurance Company of America; Southwest Securities; UBS PaineWebber; and, Wachovia Securities. NewRiver is headquartered in Andover, Massachusetts. For more information, please visit

Forward-Looking Statements

This press release and other written or oral statements made from time to time by representatives of Broadridge may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature, such as our fiscal 2007 guidance and our fiscal 2008 directional view, and which may be identified by the use of words like "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could be" and other words of similar meaning, are forward-looking statements. These statements are based on management's expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include: the ability of Broadridge to develop brand recognition and its reputation with its clients and employees following its separation from ADP in March 2007; Broadridge's success in obtaining, retaining and selling additional services to clients; the pricing of Broadridge's products and services; the incurrence of additional costs attributable to Broadridge's operations as a stand-alone public company; Broadridge's ability to continue to obtain data center services from ADP, as well as to obtain transitional services from ADP for up to one year from the date of Broadridge's spin-off from ADP; changes in laws affecting the investor communications services provided by Broadridge; changes in laws regulating registered clearing agencies and broker-dealers; Broadridge's debt levels and financing costs, including the impact of its credit ratings on such costs; overall market and economic conditions; competitive conditions; financial market activity; changes in technology; availability of skilled technical employees and the impact of new acquisitions and divestitures. Broadridge disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Press Contact:
    Tony DeMeo
    Email Contact

    For NewRiver, Inc.
    Chris McCoin or Richard Smith
    McCoin & Smith Communications, LLC
    508-429-5988 (Chris) or 978-433-3304 (Rick)
    Email Contact or Email Contact