Five more asset managers have signed on to work with a distribution startup.
| Mark Vincent Spina|
President, Chief Operating Officer
The team at Basking Ridge, New Jersey-based FLX Distribution
five more firms to their professional network. These firms — Valor Asset Management
, Tactical Fund Advisors, LLC
, Innealta Capital
, Hillman Capital Management
, and 16th Amendment Advisors
— bring FLX's platform to nine asset management firms in total.
Spokespeople from Valor, Tactical, Innealta, Hillman, and 16th Amendment did not immediately respond to requests for comment.
"FLX provides a comprehensive set of distribution capabilities including strategy, advisor sales, national accounts, data services, marketing, media and PR," Mark Spina
, FLX's president and chief operating officer, wrote in a statement to MFWire
. "Our distribution solutions are tailored for each firm."
On the addition of these five firms, Spina wrote: "We believe flexibility is more important than ever, which is why FLX Distribution partners with an array of managers who offer specialized investment expertise and are leaders in their respective disciplines to deliver diversification across managers, asset classes and product structure to best meet advisors and their clients' needs."
In terms of what's coming next for FLX, Spina tells MFWire
that the firm is looking to further expand.
"We are adding more, commensurate with our ability to raise and retain assets on behalf of our members. We are continuing to add capabilities to the platform, including an important development to more efficiently capture advisor preferences for investment products and business solutions," he writes. "We want to help the industry move away from the interruption and disruption model of traditional wholesaling towards one based more on invitation and adoption. We think about it in the context of a Netflix serving up 'recommended for you.'"
Earlier this month, FLX added
four members to the firm's Portfolio Service Team (PST), which Spina
created in August
. Additionally, FLX closed a $2.5 million seed round in July
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