FIDx bridging gaps between Insurance Companies and Investors raised $24.3 Million

Last updated on November 21st, 2022 at 07:24 am

About FIDx Company, Founders, Financials, Business and more

Fiduciary Exchange – LLC (FIDx), a Berwyn, PA-based integrated technology platform that connects financial professionals to leading insurance companies, announced that it has secured a new round of growth capital.


The round was led by Prudential Financial, Inc. (Prudential) and Global Atlantic Financial Group (Global Atlantic), two of the nation’s leading insurance companies.

Existing investors, such as Envestnet, also took part. The transaction’s financial terms have not been disclosed.

The funds will be used to expand the company’s platform and services into new markets and distribution channels.

Total Funding:

This latest round brings total funding to about $33.4 Million to Date according to crunchbase. That includes $5 M debt financing.

What does the Company do?

FIDx enables financial professionals to easily incorporate annuities as essential building blocks into client portfolios.

Its core capabilities include tools and services for thoroughly researching and illustrating annuities, proposing and opening accounts, and eventually actively managing annuity holdings as part of their household.

FIDx has strong relationships with 17 of the most well-known insurance companies and offers a diverse range of commission-based and fee-based annuity products. On its platform, the company currently has $24 billion in assets.

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Led by Rich Romano, who is responsible for the firm’s strategy, vision, and growth. Team members include Jim Warren Chief operating officer and Ryan Fauls, CTO, +62 more.

“With this growth capital, FIDx will be able to bring our platform and services to new markets and distribution channels while also helping to simplify the sale and management of annuities for industry participants,” said Rich Romano, CEO of FIDx.

“It will let us meet the needs of larger distribution companies that sell billions of dollars worth of annuities every year and want FIDx to be their annuity operating engine.”

Addressable Market

LIMRA Annuity Research says that the annuity industry is on track to set a new record with sales of nearly $300 billion in 2022.

However, many financial professionals still think that adding annuities to their clients’ portfolios is too hard. The FIDx technology platform speeds up the process by getting rid of the problems caused by old technology and systems that don’t talk to each other.

The importance of streamlining annuity sales was recognized by Prudential and Global Atlantic, and FIDx’s integrated platform was recognized as a pioneering solution.

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Why it matters?

Dylan Tyson, president of Prudential Retirement Strategies, said, “If we want more people to have a safe retirement, the industry needs to keep changing and find new ways to offer safe investment and income strategies to more wealth managers and customers.”

“The FIDx platform solves a key part of the problem and embodies the innovative spirit that the industry needs.”

Paula Nelson, Global Atlantic’s Head of Strategic Growth, Individual Markets, says that the current annuity industry model doesn’t let financial professionals easily access and manage annuities as a whole on modern wealth management platforms in the context of their overall client portfolios.

“Today’s client purchasing expectations are very different than they were 20 or even 10 years ago, and our industry has a lot of ground to make up,” Nelson said. “FIDx is bridging that gap by enabling all carriers to place products on a platform that connects directly to financial professionals where and how they prefer to do business.”

Investors’ opinion

Envestnet was one of the first investors in FIDx, and it thinks that the FIDx platform gives financial advisors and their clients a lot of benefits. enefits.Envestnet’s Insurance Exchange is powered by FIDx technology, which works with MoneyGuide, Tamarac, and Envestnet’s other leading wealth management solutions.

“We’ve kept putting money into growing our financial wellness ecosystem,” said Bill Crager, CEO of Envestnet. “Income and protection are important parts of the future of financial advice.”

“Allowing financial professionals to compare annuities with managed accounts and other investments gives them the tools they need to help their clients achieve a connected, intelligent financial life.”

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Concerning FIDx

Fiduciary Exchange, LLC (FIDx) is a technology-enabled network that connects the brokerage, insurance, and advisory ecosystems so that industry leaders can offer the best annuities and insurance solutions.

FIDx lets advisors offer their clients guaranteed income and downside protection as core parts of their portfolios, all while staying connected to the same wealth management platforms they use every day.

This lets advisors really help their clients reach their goals by giving them complete advice. To learn more, go to and connect with FIDx on LinkedIn. Envestnet, Inc. has a financial interest in Fiduciary Exchange LLC and serves on its board of directors (FIDx).


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