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Broadridge to Acquire TD Ameritrade Retirement Plan Custody and Trust Assets

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Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader and part of the S&P 500® Index, today announced it has entered into a purchase agreement to acquire the retirement plan custody and trust assets from TD Ameritrade Trust Company, a subsidiary of TD Ameritrade Holding Company (Nasdaq: AMTD). The acquisition will expand Broadridge’s suite of solutions for the growing qualified and non-qualified retirement plan services market and the support it provides for third-party administrators, financial advisors, record-keepers, banks, and brokers.

The acquisition of TD Ameritrade’s retirement plan custody and trust assets represents the continued expansion of Broadridge’s Matrix Financial Solutions (“Matrix”), a best-in-class mutual fund and ETF trade processing platform for the retirement industry with access to more than 25,000 funds. This additional capacity to provide directed trustee, custody, mutual fund, and ETF trading services enables Broadridge to meet an even greater variety of client needs, unlock new growth opportunities and serve a broader set of retirement stakeholders. Upon closing of the transaction, Matrix is expected to have approximately $420 billion in assets under administration and over 118,000 plan accounts in custody.

“The TD Ameritrade trust and custody assets are a strong complement to Broadridge’s established mutual fund and retirement business, and uniquely positions us as one of the largest neutral, independent service providers of custodial and sub-custodial solutions,” said Broadridge Head of Mutual Fund and Retirement Solutions, Michael Liberatore. “The acquisition represents the next step forward in Broadridge’s strategy of serving a broader set of retirement stakeholders and unlocking new opportunities for our clients.”

“After careful consideration, we decided to exit a part of our retirement plan trust business, one that’s better served by a scale player dedicated to expanding and investing in this business. Broadridge is a leader in this space with the proven technology and experience to provide advisors with access to innovative solutions and high-level client service,” said Tom Nally, President of TD Ameritrade Institutional. “With this deal, TD Ameritrade Institutional can increase its focus on developing and delivering industry-leading technology, products and service that can help independent RIAs grow and compete.”

TD Ameritrade Institutional, a division of TD Ameritrade, Inc. that provides custody and brokerage services to more than 7,000 independent registered investment advisors, will continue offering the TD Ameritrade Retirement Plan (TDARP), a turn-key solution for advisors that combines record-keeping, administration and other plan services in one convenient bundle. TD Ameritrade Institutional will maintain its TDARP sales, service and marketing teams as well as its vendor relationships with TDARP service providers.

Terms of the deal were not disclosed. The transaction is expected to be completed in the second quarter of the calendar year, subject to customary closing conditions and regulatory approvals.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to TD Ameritrade.

 

SOURCE Broadridge Financial Solutions, Inc.


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CCELL®

CCELL Launches Environmentally Conscious Eco Star AIO Vaporizer

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SHENZHEN, China, April 15, 2024 /PRNewswire/ — CCELL®, the world’s leading technology brand focused on creating trendsetting vape hardware products and advanced vaporization technology, today announced the launch of the Eco Star, the company’s all-in-one vaporizer focused on sustainability, wide-ranging oil compatibility, and ease of use.

The Eco Star’s casing material is made of biodegradable and plant-based PLA, a material that can be decomposed by bacteria or other living organisms. By adopting this type of eco-friendly casing, CCELL seeks to provide an option that can reduce the cannabis industry’s overall environmental impact and build a more sustainable society.

Built within the casing is a removable and recyclable lithium-ion battery. This thoughtful pull-apart design allows consumers to easily remove the battery before disposing of the casing, empowering them to contribute towards a greener Earth.

The Eco Star also features complete compatibility with all types of cannabis oils, clog-free dual air vents, and an isolated airway that ensures the cleanest possible vapor.

With increasing environmental challenges worldwide and tightening regulations on vape products, the Eco Star was introduced with the intention of raising environmental awareness across the industry.

The company has also implemented other measures to align its practices with its long-standing sustainability-focused values. These include offering biodegradable and plant-based PLA mouthpieces among its customization options. Additionally, the company uses energy-efficient aqueous processing in producing its patented ceramic heating cores to reduce greenhouse gas emissions.

Before the product’s official launch, CCELL provided their customers and consumers with an early look at the Eco Star at TPE24 and Hall of Flowers Ventura in the US, and Spannabis Barcelona in Spain.

Disclaimer for battery disposal: CCELL does not recycle lithium-ion batteries. Battery recycling requirements may vary by country, city, etc. Please contact your local recycling center for more details before disposal.

About CCELL®

CCELL® is a technology brand and global innovator in the portable vaporizer space that revolutionized the industry by introducing the ceramic heating component. CCELL® was born in the headquarters of Shenzhen Smoore Technology Limited, which has more than 10 years of expertise in the vaporization industry. With advanced R&D resources, patented technologies, strong production capabilities, and reliable quality control systems, CCELL® is recognized around the world for its exceptional vaporization technology and top-quality devices.

Learn more about CCELL® at www.ccell.com as well as on LinkedIn, Instagram, Facebook, Twitter, and YouTube.

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Cision View original content:https://www.prnewswire.co.uk/news-releases/ccell-launches-environmentally-conscious-eco-star-aio-vaporizer-302116454.html

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