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The Securities and Exchange Commission’s Rule 30e-3, adopted earlier this year, allows companies and broker-dealers to send investors investors full copies of shareholder reports via the internet instead of mailing them, thereby cutting costs.

And while the SEC estimates potential cost savings of over $230 million annually on paper, printing and postage, it’s going to be tough for some companies to switch over.

Enter Broadridge Financial Solutions, which is launching FundReports.com on Jan. 1 as a centralized website for its more than 1,100 BD clients to manage shareholder delivery preferences.

The new rule allows funds to begin using the new delivery option on Jan. 1, 2021, as long as they notify shareholders beginning on Jan. 1, 2019. Fund companies and BDs also have to quickly provide shareholders with a way to opt out of the notice delivery method. Lots of companies and BDs, however, may not be prepared for implementation of the new rule, even if they’re looking to cut the costs of delivering all those reports.

That’s where Broadridge comes in. It’s offering a universal solution to capture and manage shareholder preferences during the two-year notification period in the form of a centralized website to help firms manage delivery preferences. Shareholders can access the site for all funds via the unique identification numbers tied to their accounts.

FundReports will provide shareholders with an easy way to enroll in electronic delivery, thereby saving fund companies the costs of mailing the new notice.

“SEC Rule 30e-3 is a logical next step to reduce costs of paper, printing and postage,” Michael Liberatore, head of Broadridge’s Mutual Funds and Retirement Solutions business, said in a statement.

Liberatore added, “Under the rule, fund companies and broker-dealers are also permitted to include key information from the reports along with the notice. This can make the notice more user-friendly, more informative, and more engaging — thus leading to more e-delivery. Enhancing the notice also provides a better branding experience for funds and brokers. It can be a ‘win win’ for shareholders and the industry alike.”

At 2 p.m. on Wednesday, a Broadridge expert will be among the speakers in a NICSA webinar on key aspects and required action items related to the 30e-3 ruling. Details and registration can be accessed via this link.