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Fees as high as 25 cents an email to send mass correspondence to investors are riling executives at public companies and mutual funds and putting a spotlight on the power of an obscure but lucrative Wall Street utility, Broadridge Financial Solutions.
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In the business of investor communications, “Broadridge is the leading player, by a wide margin”, said Rajiv Bhatia, analyst at Morningstar. “The majority of shares are held in brokerage accounts, and Broadridge has every broker except [retail broker] Robinhood. That’s essentially the entire market.”
https://www.ft.com/content/5f912194-cd4e-424a-8d42-da3a98ca3836
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