FIDx secures equity capital
Annuity platform FIDx announced the closing of new undisclosed growth capital led by Prudential Financial with participation from Franklin Templeton , Invesco LLC, and Axonic Insurance Services .
Founded in 2017, FIDx offers a platform that integrates annuities and other insurance products into registered investment advisor (RIA) and broker-dealer workflows. Its offerings are designed to help financial advisors include protected income solutions as part of holistic retirement planning.
The new capital will support product development and strategic partnerships. FIDx has integrations with firms like Envestnet and Halo Investing.
“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. 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.” – Rich Romano, CEO of FIDx.
“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.” – Ann Nanda, Head of Future Growth Initiatives and Distribution Enablement for Prudential Retirement Strategies.
“The connectivity between wealth managers and insurance providers enabled by FIDx is key to integrating insurance and income strategies into holistic client solutions. 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.” – Roger Paradiso, Head of Custom Client Solutions at Franklin Templeton.
“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.” – John McDonough, Head of Americas Distribution at Invesco.
