GainsKeeper in the News

Wolters Kluwer Financial Services and Broadridge Tax Services Have Teamed to Develop a Comprehensive Tax Reporting and Investment Compliance Solution
New Collaboration Offers Tax Solutions to Solve for Complicated Fixed Income Tax Reporting Rules.

WALTHAM, Mass. – Aug. 12, 2014 – 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.

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.”

Visit the Wolters Kluwer Financial Services website to find out more about Cost Basis Reporting compliance and the GainsKeeper solution.

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