BERWYN, PA — Fiduciary Exchange, LLC (FIDx) this week announced the completion of its latest growth capital round, led by Prudential Financial, Inc., with additional investments from Franklin Templeton, Invesco LLC, and Axonic Insurance Services. The funding underscores FIDx’s mission to simplify and expand access to retirement income and protection solutions for financial advisors and their clients.
“We are excited to add Franklin Templeton, Invesco, and Axonic to our strategic investor group and highly value Prudential’s ongoing leadership and commitment to our growth,” said Rich Romano, CEO of FIDx. “This capital raise demonstrates the broader industry’s confidence in and recognition of the vision and strategy that FIDx continues to execute. We remain fully committed to enabling every advisor to seamlessly integrate income and protection solutions into every client’s financial plan. Our strategic investors clearly recognize the importance of this evolution for their businesses.”
Now in its eighth year, FIDx operates its Insurance Exchange and is preparing to launch the groundbreaking Insurance Overlays Marketplace. These platforms connect over 20 leading insurance carriers with a range of fee-based and commission-based products to wealth management firms and asset management platforms, addressing long-standing integration challenges for financial professionals.
“At Prudential, we are committed to expanding access to retirement security by empowering advisors with more effective and integrated tools,” said Ann Nanda, Head of Future Growth Initiatives and Distribution Enablement for Prudential Retirement Strategies. “FIDx is a key innovator in this space, providing platforms that connect wealth managers with lifetime income strategies that can help them protect their life’s work, so they can live better lives, longer.”
For the first time, asset management firms are becoming direct investors in FIDx. Franklin Templeton and Invesco highlighted how FIDx’s platform is bridging gaps in the advisory sector.
“The connectivity between wealth managers and insurance providers enabled by FIDx is key to integrating insurance and income strategies into holistic client solutions,” said Roger Paradiso, Head of Custom Client Solutions at Franklin Templeton. “Our work to connect FIDx and our Canvas Custom Indexing platform continues the ongoing expansion of innovative solutions available to clients on the Canvas platform while also creating an additional access point for partners across the industry to tap into these offerings.”
John McDonough, Head of Americas Distribution at Invesco, added, “Our investment in FIDx reflects Invesco’s commitment to delivering innovative retirement solutions that help advisors and their clients achieve greater financial security. By integrating FIDx’s powerful technology with our investment expertise, we’re expanding access to lifetime income and decumulation strategies that are essential for today’s evolving retirement landscape.”
With growing demand for retirement income solutions like annuities, FIDx’s expansion will further simplify the integration of these tools into financial plans, empowering advisors to meet the complex needs of their clients more effectively.
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