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Comprehensive Tax Reporting and Investment Compliance

New Collaboration Offers Tax Solutions to Solve for Complicated Fixed Income Tax Reporting Rules

Chuck Ross
General Manager, Investment Compliance Solutions
Wolters Kluwer Financial Services

Wolters Kluwer Financial Services has joined with Broadridge Tax Services to deliver world-class Phase 3 Debt functionality to support Cost Basis and Tax Reporting compliance. The solution marries the efficiency of GainsKeeper® CompleteDebt with Broadridge Tax Data Services in order to facilitate enhanced tax reporting, reconciliation and continuity to meet the increasingly complex needs of broker-dealers for all asset classes, including debt, equities, mutual funds, and options.

“We are excited to team with Wolters Kluwer Financial Services to further enhance and provide what we believe is a tremendous offering in CompleteDebt through the integration of our Tax Data Services products”

The combination of GainsKeeper and Broadridge Tax Data Services under this model introduces the industry’s only Phase 3 Debt solution built from a Cost Basis platform. Moreover, GainsKeeper CompleteDebt is the only debt calculator currently in production in the industry that complies with all of the tax rules necessary to make the complex basis adjustments required by Phase 3.

Wolters Kluwer Financial Services will leverage Broadridge’s Tax Managed Services solution as a complementary offering to complete Information Reporting requirements for clients looking for a combined Basis and Tax Reporting solution. This combination is a logical step to provide an integrated solution to several broker-dealers that selected both the GainsKeeper and Broadridge Tax Data/Tax Managed Services solutions.

“We are excited to team with Wolters Kluwer Financial Services to further enhance and provide what we believe is a tremendous offering in CompleteDebt through the integration of our Tax Data Services products,” said Gordon Fox, vice president and general manager of Broadridge Tax Services. “We share in GainsKeeper’s vision to drive debt calculations out of basis platforms to reduce risk and gain the benefits of real-time updates for cost and investor election changes. We applaud their work with this product and are excited our Data Services products will be an integral part of their success.”

“Broadridge Tax Services understands the heavy regulatory pressures facing financial service firms, and their focus is on helping lessen those burdens for their clients,” said Chuck Ross, vice president and general manager of Investment Compliance Solutions at Wolters Kluwer Financial Services. “It is important for us to deliver the most extensive and centralized broad-based automated Cost Basis services available so we can help broker-dealers avoid the potential data quality and workflow issues inherent in multiple-vendor systems while providing tax regulatory compliance.”

About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides more than 15,000 customers worldwide with risk management, compliance, finance and audit solutions that help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. With more than 30 offices in 20 countries, our prominent brands include: AppOne®, ARC Logics®, AuthenticWeb™, Bankers Systems®, Capital Changes, CASH Suite™, FRSGlobal, FinArch, GainsKeeper®, NILS®, TeamMate®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®. Wolters Kluwer Financial Services is part of Wolters Kluwer, which had 2013 annual revenues of €3.6 billion ($4.7 billion), employs 19,000 employees worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

About Broadridge
Broadridge is a technology services company focused on global capital markets. Broadridge is the market leader enabling secure and accurate processing of information for communications and securities transactions among issuers, investors and financial intermediaries. Broadridge builds the infrastructure that underpins proxy services for over 90% of public companies and mutual funds in North America; processes more than $3 trillion in fixed-income and equity trades per day; and saves companies billions annually through its technology solutions. For more information about Broadridge, please visit www.broadridge.com.

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