Information about technology, user of the technology and application

Broadridge® Acquires CAESAR

Broadridge Strengthens Advisor Compensation Capabilities

Acquisition of Financial Database Services, Inc. Extends Broadridge’s Wealth Management Product Suite

NEW YORK, N.Y. – September 3, 2019  Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and part of the S&P 500® Index, today announced that it has acquired Financial Database Services, a trusted provider of compensation management, compliance and advisor onboarding solutions for the wealth management industry. The acquisition expands Broadridge’s current market leading advisor compensation management capabilities and underscores its commitment to bringing value-added technology solutions to the wealth management industry.

“The acquisition of Financial Database Services is the latest example of Broadridge expanding our wealth capabilities and growing our client base,” said Michael Alexander, head of North American Wealth and Capital Markets Solutions for Broadridge. “Compensation management and compliance are key industry areas in need of transformation, and we look forward to extending our industry leading capabilities.”

Financial Database Services, the developer of the CAESAR suite of products, provides a modular suite of compensation and compliance tools to the marketplace, including advisor onboarding and analytics solutions. With the SEC’s recently adopted Regulation Best Interest rule, the solutions strengthen Broadridge’s position to help clients with adoption and compliance.

“We are excited to become part of industry leader Broadridge and to work together to continue to bring innovative solutions to a greater number of clients,” said David Woltman, President of Financial Database Services.

Terms of the deal were not disclosed.

About Broadridge

Broadridge Financial Solutions, Inc. (NYSE: BR) a $4 billion global Fintech leader and a member of the S&P 500, is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers globally. Broadridge’s investor communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge’s infrastructure underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes on average more than US $5 trillion in fixed income and equity trades per day. Broadridge employs over 11,000 full-time associates in 18 countries.


W. Edings Thibault
Head of Investor Relations
Broadridge Financial Solutions
+1 516-472-5129


Tina Wadhwa
Broadridge Financial Solutions
+1 212-973-6164



Reporting and Analytics

In general, data is simply another word for information. But in computing and business (most of what you read about in the news when it comes to data – especially if it’s about Big Data), data refers to information that is machine-readable as opposed to human-readable.

Machine-readable (or structured data) refers to information that computer programs can process. A program is a set of instructions for manipulating data. And when we take data and apply a set of programs, we get software. In order for a program to perform instructions on data, that data must have some kind of uniform structure.


Transactional data (structured data) is incredibly important for broker dealers because it helps them to expose variability and risk. CAESAR has always held a lot of data, of which 32% was used for compliance and compensation processing. We are pleased to announce that we are now examining large amounts of CAESAR’s transaction data to uncover hidden patterns and correlations.

These patterns can reveal otherwise imperceptible trends, resulting in enhanced compliance while providing insights for financial advisors to reveal what customers are buying based on specific metrics such as age, net worth and investment strategy.

Business analytics (BA) refers to the skills, technologies, practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. In contrast, business intelligence traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning, which is also based on data and statistical methods

Business analytics makes extensive use of statistical analysis, including explanatory and predictive modeling, and fact-based management to drive decision making. It is therefore closely related to management science. Analytics may be used as input for human decisions or may drive fully automated decisions. Business intelligence is querying, reporting, online analytical processing (OLAP), and “alerts.”

DOL Fiduciary Rule Challenged in Court

On Wednesday June 1, 2016 the U.S. Chamber of Commerce, Financial Service Institute, Securities Industry Association took action against Thomas E. Perez, Secretary of Labor and U.S. Department of Labor (Get Civil Action No. 16-cv-1476)DOL Civil Action

Technology ecoSYSTEMS

In creating “technology ecosystems”, the process is similar; we integrate disparate systems so when the ancillary systems are connected they complement a “core solution” and expand its functionality and allow new and even unanticipated uses.

When properly done, it is difficult to identify the “core solution” because the once disparate systems now are interdependent and act as a seamless solution, exchanging real time data and calling upon other applications to execute processes.

ScreenHunter_2367 Oct. 13 16.33In the future successfully technology ecosystems will be developed around industry accepted open standards and offer the customer a wide variety of hardware and software integration opportunities.

Open design will also reduce innovation time from what was once measured in years, to weeks and months. This agile development and rapid delivery will place ever increasing importance on project management and vendor selection.

The best way to meet ever increasing demands of regulators and clients and to expand new business opportunities is for senior management to build cultural of supporting corporate “technology ecosystems”.

Be successful; Fail often….

 Learning to Fail Quickly and Effectively!


Mastering the art of Failure

Unlike the “trophy culture” of today where participation is rewarded, the real world is all about results….not participation. And forwhatever reason failure has a negative connotation in our society, hence the “trophy culture”.

In today’s complex world, failure is not only inevitable, it’s also greatly undervalued. And there is an art to failing and its called “Failing Fast”. 

The premise is simple; once a single component of the project falls outside the acceptable range, it is acknowledged as failure. The next step is to triage the situation, and to find alternative solutions.

Failing Fast allows teams to get projects back on track with minimal delay and cost overruns. Often lessons learned in the failure of one element of a project will benefit another.

Be successful; Fail often … but Fail fast.



Financial Database Services’ CAESAR provides enterprise solutions to securities broker dealers and registered investment advisory firms through a suite of functions, including automating compliance and commission processing.

Contact us (858) 526-8147 or email us

Technology Roadmap

Technology Roadmaps Mean Different Things to Different People

However, the best technology roadmaps share common features. FDS has created a list of ten tips for building and using a successful technology roadmap within your organization. Here are those tips for visualizing your roadmapping process:

1.  Roadmaps are not lists – An effective technology roadmap defines technology pathways that show how incremental innovations, often happening in parallel, can add up to new technologies and products in the future. They also highlight opportunities for breakthrough innovations to radically accelerate the R&D process. If your roadmap does not show these relationships, do you have a roadmap or a list?

2.  It’s all about the priorities – Again, say it with me: Roadmaps are not lists! I can’t tell you how many roadmaps I’ve opened only to see a wish list of activities without any sense of relative priority. If roadmaps are to be used to guide R&D investment decisions, it is essential to indicate the relative priority of roadmap activities, particularly in today’s environment of increasingly scarce resources in both public and private sectors.

3.  You need senior-level buy-in now – A roadmap takes you where you want to go. In most organizations, senior managers must provide “strategic intent” at the onset of the roadmapping process. Then the roadmap can be tailored to produced and utilized as a useful planning tool that aligns decisions with strategic intent.

4.  People matter – Senior leaders are not the people who implement a roadmap. A roadmap ultimately must influence people to make decisions that support the overall strategy. Engage stakeholders during the roadmap development process to get buy-in with people involved in the priorities, both figuratively with their support and literally with their R&D budgets.


5.  A picture is worth a thousand words – Create a simple picture, diagram, or dashboard to quickly summarize and convey key roadmap priorities and status at a glance. This will give you a much stronger opportunity to engage people with the roadmap and make decisions that align individual actions with larger corporate or industry goals.

6.  Focus on the outcomes – Implementation does not begin when the roadmap is finished. Implementation models should contain the information required to execute the plan according to the technology roadmap objectives.

7.  Build it in rings – Start with small groups and pull in more people to contribute to validate and act upon your roadmap as needed.

8.  Use the OODA loop – New information is constantly becoming available, and your team should learn to use the OODA Loop. A process to Observe, Orient, Decide and Act. In other words, monitor and update key players regularly to reflect new data, technology advances, and changing business conditions as you implement your technology roadmap and implementation plan.

9.  Seek unity of effort – The chief value of roadmaps is the ability to align the efforts of many individuals toward shared goals to align and unify the organization. Doing so while you build your roadmap is essential for creating the relationships needed to implement coordinated actions to achieve your technology roadmap goals.

10.  One size does not fit all – If you work with external consultants to define your technology roadmap, make sure your staff is fully engaged with creating it so the plan fits your unique business model and culture. No one knows your business better then you do.

With over 27 years experience in the software business, Financial Database Service can help you with many technology related projects like creating design documents, “software blueprints”, data engineering, vendor selection, project management and more.

Using these tips can help you build an effective roadmap and implementation strategy.

We can help you to get started today, just [Click Here].

Compliance, Books & Records and Holds

Financial Database Services recently hosted a CAESAR Focus Group with clients around the theme of Compliance where we discussed Books & Records, Hold Recommendations and Compliance Reporting.

One of the items discussed in detail was the need for enhanced tracking of changes made to investment objectives, above and beyond CAESAR’s compliancecurrent data tracking for Books & Records. The common need was for Back Office staff to define what the client’s objective was at the time of the trade for regulatory audits.

FDS has had several internal conversations around this need, and has added a new task to our 2013 product development funnel. At a high level, this new feature will link the client’s investment objective to a trade as it is loaded into CAESAR, manually or from a file. More information will be provided as we finish the Design Document and make it available to you for retrofit.

Another item that came up in the webinar was Hold Recommendations. CAESAR currently has a “Note” features at the Rep, Branch and Trade level. Based upon our discussion, we determined that adding Notes at the client level would be a good place to document Hold Recommendations, as well as other free form notes on an account. This idea has been submitted to our 2013 product funnel, and is in development.

Successful Deployment

Changes are constant with every organization. Technology and process changes that accompany new employee and manager direct access or talent management initiatives like performance management, learning and development, and talent acquisition, can significantly impact employee morale and company culture. deployment_quote

Motivating behavioral change is accomplished through the engagement of the entire organization. By encouraging and supporting the change with clear and open communication, incentives to modify behavior, and executive support an organization can adjust the behavior of managers and employees in order to achieve the goal of the new solutions. Behavioral adjustments in the way managers manage and the way employees and managers interact can yield significant results.

An effective internal marketing and communications strategy can help maximize technology investments. It is imperative that you consider what to communicate, how to communicate, and via what communication channels.

  1. Conduct a workshop to:
    • Define goals and objectives of the initiative
    • Understand the current mindset of the targets of the change and current organizational culture
    • Identify and understand process and system interaction by audience
    • Determine required behavioral changesidentify and define motivators to encourage behavioral change
    • Understand the current mindset of the targets of the change and current organizational culture
  2. Identify branding, communication and training tools
  3. Design comprehensive Training Plan that includes end-user system training as well as strategic developmental training
  4. Define success measures
  5. Execute plan
  6. Measure and promote success

Improving User Adoption / Change Management

Successful deployment involves the process of creating effective organizational communications and training strategies that improve awareness of workforce initiatives; that motivate behavioral change, and encourage employee adoption of new processes and technology.User Adoption

You must engage every level of your workforce and ensure a successful rollout of new workforce-facing technology through the following components:

1. Internal Marketing and Communications: Educate, motivate, and inspire the workforce to adopt a new solution.

2. Comprehensive Change Management: Motivate behavioral change across the entire workforce population to gain buy-in and support at every level of the organization. 

3. Training Plan: Develop a strategy for end-user system training as well as soft skills training on topics like goal setting and creating effective development plans. 

An effective internal marketing and communications strategy can help maximize technology investments. It is imperative that you consider what to communicate, how to communicate, and via what communication channels. 
ScreenHunter_216 Jun. 27 13.31
Motivating behavioral change is accomplished through the engagement of the entire organization. By encouraging and supporting the change with clear and open communication, incentives to modify behavior, and executive support an organization can adjust the behavior of managers and employees in order to achieve the goal of the new solutions. Behavioral adjustments in the way managers manage and the way employees and managers interact can yield significant results. 

A comprehensive training strategy addresses the needs of every stakeholder within the organization, providing them with the opportunity to develop the skills and knowledge required to effectively leverage the new system ortechnology.

Communicate the why, what, and how of the change impacts the organization.

Avoiding Deployment Failure

Changes are constant with every organization. Technology and process changes that accompany new management directives can significantly impact employee morale and company culture. New technology initiatives consist of 3 primary components:

  1. Process changeSuccessful technology deployment depends on the people.
  2. Technology
  3. Change management


Companies must consider each of these elements in order to achieve maximum results and ensure employee engagement with new workforce-facing technology. This requires both an understanding of how to execute the process and use the system as well as a change in behavior.

Studies show 92% of the reasons for failure of new system implementations are “soft issues” – organization, people, and culture. Even the best technology will not succeed without a well-planned change management and communication process. A deliberate, comprehensive, and effective strategy to manage change can maximize employee engagement and solution adoption, and can then be used to bring in further changes to improve their morale and loyalty to the company in the long term (click now for an option regarding this). Investing in your people now can help prevent issues in the future where you lose the best you have and have to start again.

deployment_quoteA well thought out and deliberate deployment strategy that addresses the needs of the business, encourages user input during the planning and development phase through open bidirectional communication, and ensures proper training will significantly impact the return on technology investments.

Imagine deploying a new solution to your workforce, and having them lined up to use it. This is the goal of an effective deployment strategy – to obtain buy-in, support, and commitment at every level of the organization through a structured, organized, and repeatable process.