New York
13 August 2014
Reporter: Catherine Van de Stouwe

Wolters Kluwer and Broadridge tackle tax compliance


Wolters Kluwer Financial Services and Broadridge Tax Services have teamed up to deliver the Phase 3 Debt functionality to support cost basis and tax reporting compliance.

The solution merges Wolters Kluwer’s GainsKeeper Complete Debt with Broadridge Tax Services in order to facilitate enhanced tax reporting, reconciliation and continuity to meet the increasingly complex needs of broker-dealers for all asset classes.

The combination of solution with Broadridge introduces the indutry’s only Phase 3 Debt solution built from a cost basis platform. The GainsKeeper is also the only debt calculator in production in the industry that complies with all of the tax rules necessary to make adjustments required by Phase 3.

Gordon Fox, vice president and general manager of Broadridge Tax Services, said they are “excited” to work with Wolters Kluwer and to: “further enhance and provide what we believes is a tremendous offering in CompleteDebt through the integration of Broadridge Tax Services.”

“We share in GainKeeper’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.”

Chuck Ross, vice president and general manager of investment compliance solutions at Wolters Kluwer, said: “Broadridge Tax Services understand the heavy regulatory pressures facing financial service firms, and their focus is on helping lessen those burdens for their clients.”

“It is important for us to deliver the most extensive and centralised broad-based automated cost basis services available so we can help broker-dealers avoid the potential data quality and workflow issues inherent

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