Fiduciary Exchange (FIDx) Secures Equity Funding from Leading Financial Companies
Fiduciary Exchange (FIDx), a Pennsylvania-based insurtech company, has announced a successful round of equity funding from key players in the financial industry. The funding amount remains undisclosed, but the round was led by Prudential Financial, with additional investments from Franklin Templeton, Invesco LLC, and Axonic Insurance Services.
This injection of funds will support FIDx in expanding their operations and further developing their integrated tools that connect financial professionals. CEO Rich Romano leads the company, which focuses on empowering a technology-driven network that seamlessly integrates brokerage, insurance, and advisory services to offer annuities and insurance solutions from various carriers. This allows advisors to provide guaranteed income and downside protection as essential components of their clients’ portfolios, all within the wealth management platforms they already utilize.
Having been in operation for nearly eight years, FIDx boasts partnerships with over 20 insurance carriers, major asset management firms, and wealth management platforms. Through these collaborations, advisors gain access to a wide range of commission- and fee-based insurance products, enhancing their ability to serve their clients effectively.
