Fintech company Broadridge Financial Solutions has acquired AdvisorTarget a provider of behavioural intent data on financial professionals.

The terms of the transaction were not revealed.

Based in the US, AdvisorTarget is engaged in offering data products to asset management and wealth management firms to help bolster digital marketing, sales, and engagement programmes targeting financial advisers.

By leveraging AdvisorTarget’s auto-login technology, financial services firms can discover and predict the next move of financial professionals to deliver them products and services they require.

The technology is also applied to AdvisorTarget’s media properties and white label partners.

AdvisorTarget also gathers adviser behavioural intent data and supports asset managers in identifying new adviser relationships where purchase intent is in line with product strengths.

AdvisorTarget founder and ongoing head Duncan MacDonald-Korth said: “The ultimate end-state for asset managers distributing products through intermediaries has always been the seamless fusion of advisor intent and asset holdings.

“Not only will this acquisition turbo charge AdvisorTarget’s next phase of growth and perfectly integrate with Broadridge’s market-leading analytics offerings, but it will finally solve the advisor distribution riddle for our clients. Together, we look forward to creating new and exciting solutions to accelerate growth for asset and wealth managers.”

Through the acquisition of AdvisorTarget, Broadridge Financial Solutions aims to add the former’s unique adviser insight to the company’s existing data and analytics portfolio.

This will enable asset managers in better targeting advisers and driving their growth strategies.

Broadridge Financial Solutions data and analytics head Dan Cwenar said: “The combined capability this acquisition creates is unique, as it pairs AdvisorTarget’s advisor behavioral data with Broadridge’s insights on asset holdings to unleash a new level of precision for asset managers, making sales efforts laser-targeted at interested buyers.

“Our clients will benefit from a more fully integrated, data-driven, digital marketing and sales offering to achieve sales efficiencies, improve customer experiences, and enhance sales and revenue opportunities.”

DC Advisory served as the exclusive financial adviser to Broadridge Financial Solutions while Broadhaven Capital Partners acted as the exclusive financial adviser to AdvisorTarget.

Earlier this month, Broadridge Financial Solutions agreed to acquire Kyndryl’s transaction processing platform for the securities brokerage industry in Canada, dubbed Securities Industry Services (SIS).