The provider of investor communications and technology solutions seeks to bolster its wealth management offering with the acquisition.

New York-headquartered Broadridge has acquired M&O Systems, a provider of advisor compensation management solutions serving broker-dealers and wealth management firms, for an undisclosed amount.

Broadridge will now be able to offer its clients advisor compensation and incentive management, advisor commission portals, account opening and client books, and records solutions, the company said. It added that the technology provided by M&O Systems helps firms make investment recommendations, produce, distribute and disclose documents, and monitor compensation levels.

"As a result [of the acquisition], Broadridge can now offer broker-dealers and wealth management firms a more complete suite of front- and back-office solutions ranging from advisor marketing and practice management capabilities to mission-critical brokerage investment platforms,” said Charlie Marchesani, Broadridge's president of global technology and operations.