Corporate Roundup: JULY Acquires EIP, Nationwide Unveils Digital Experience

FIDx Secures Equity Capital from Prudential, Invesco

Fiduciary Exchange, LLC (FIDx) announced the closing of new growth capital. Prudential Financial, Inc. was the lead investor in this latest funding round, with participation from Franklin Templeton, Invesco LLC, and Axonic Insurance Services.

“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.”

After nearly eight years of operation, FIDx and its platforms currently collaborate with over 20 insurance carriers, asset management firms, and wealth management platforms, connecting advisors to commission- and fee-based insurance products.

Ann Nanda, head of Future Growth Initiatives and Distribution Enablement for Prudential Retirement Strategies, stated, “At Prudential, we are committed to expanding access to retirement security by empowering advisors with more effective and integrated tools. 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.”