MutualFundWire.com: How Is FLX Using Its New Capital?

MutualFundWire.com

The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication

Thursday, November 17, 2022

How Is FLX Using Its New Capital?

Fresh from raising a third round of capital, a distribution ally to fundsters is expanding his team and investing further in technology.

Brian Michael Moran
FLX Networks
CEO, Founder

Brian Moran, founder and CEO of FLX Networks, confirms that hiring has already begun in light of the Bernardsville, New Jersey-based TPM's recent growth equity round. (FLX raised $10 million in this latest round, as previously reported. The firm now supports nearly 60 asset managers with nearly $2 trillion in combined assets.)

Via an emailed statement, Moran tells MFWire that he's hiring across a number of areas, including infrastructure, national accounts, platform sales, support, technology, and wholesaling. (Specific positions he's adding include chief product officer and IT director.) FLX, which will celebrate its third anniversary next month, now has a team of 37 people.

Moran is also using the new capital on "technology builds."

"We are a technology company," Moran writes. "We've built our entire community platform from the ground up; through our platform we deliver an engagement opportunity that modernizes and simplifies how this ecosystem comes together."

FLX now has more than 1,000 industry members. Members include financial advisors (with indie B-Ds, RIAs, and wirehouses), home office personnel at those B-Ds and RIAs, and "asset manager employees and industry professionals tied to sales, marketing, and other asset management job functions," Morgan confirms.

Printed from: MFWire.com/story.asp?s=65153

Copyright 2022, InvestmentWires, Inc.
All Rights Reserved