The team at Basking Ridge, New Jersey-based FLX Distribution has created a Portfolio Service Team (PST). The team, which consists of four members brought on board this summer, will manage connecting asset managers with the third-party marketing and distribution firm's (TPM's) marketplace resources.

Mark Vincent Spina FLX Distribution President, Chief Operating Officer

"The Portfolio Service Team overall is working in collaboration with our asset management partners to raise and retain assets on their behalf," Mark Spina, FLX president and chief operating officer, tells MFWire. "[Team members] are working across channels including, intermediary and institutional. Really, the role of the team is to introduce a capability to an advisor or a professional buyer, to review that portfolio capability, to respond to questions, to identify ways that that capability can be utilized in an overall portfolio, and then to provide ongoing info and insight as to how that particular capability is performing overtime."

The four members of the new team are Ralph Divino , Hillary Ambrose , Henry Kim , and Robert Britt . Most recently, the members held positions at Macquarie Group, LoCorr Funds, New York Life's Eagle Strategies, and Vanguard, respectively. All team members report directly to Spina.

Spokespeople from the Macquarie Group and LoCorr Funds did not immediately respond to requests for comment. A spokesperson from Vanguard declined to comment.

"Given the dynamism in the market and given the growth of the firm, we've really centered on versatility," Spina says to MFWire. "We've specifically hired individuals who can understand first and converse about a range of asset classes and product structures."

Spina hints at future growth, of FLX's asset manager client base and then of the PST team: "We expect that as we add additional asset managers in Q3 and Q4 of 2020, we expect to expand the Portfolios Services Team."

The unveiling of the PST team comes on the heels of the closing last month of FLX's $2.5-million seed round of funding. 

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