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Wolters Kluwer Financial Services (WKFS) has partnered with Broadridge Tax Services to develop a comprehensive cost-basis tax reporting and investment compliance solution, according to a statement from Wolters Kluwer.
The solution combines the capabilities of WKFS’s GainsKeeper CompleteDebt with Broadridge Tax Data Services to allow broker-dealers to meet tax reporting and reconciliation needs across all asset classes, say officials from both vendors.
The cost basis reporting (CBR) combination offers a Phase 3 Debt solution built from a CBR platform, according to the release. CompleteDebt complies with all of the tax rules needed to make the basis adjustments required by Phase 3.
“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,” says Gordon Fox, vice president and general manager of Broadridge Tax Services, in a statement.
Need a Reprint?- Read More:
- Broadridge Financial Solutions,
- CompleteDebt,
- Cost Basis Reporting,
- GainsKeeper,
- Phase 3,
- Wolters Klkuwer Financial Services,
- broker-dealer
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