Hortz: What else did you build onto your platform to develop it into a consultative ecosystem?
Moran: The FLX platform is a new form of distribution residing on a tech platform that can access all stakeholders in a meaningful way and on the stakeholders’ own terms. While the platform does have information on each asset manager who joins as a corporate member and helps promote them on the platform, we initially do not believe this will be an overarching point, which draws asset managers to the site. To add value, we built 5 supportive distribution functions or verticals (2 coming Q2 2021), which are the true attraction:
• FLX Solutions Providers
• FLX Capital Markets
• FLX Advisor Experience
• FLX Media
• FLX Intelligence
These allow FLX and its platform to have a more consultative approach and provide holistic value to the asset manager, so they can build their business, receive actionable intelligence, and be able to engage how and when they want help from or engage distribution and other key industry professionals, including financial advisors.
Further, the different verticals will allow distribution professionals the ability to take a more consultative approach. This approach provides more topics and opportunities to talk about and position with advisors and home offices. Coupling this with proprietary data on the asset managers and wealth management firms, it is simple to see how we have gained traction with these three stakeholder groups. We believe there will be fewer degrees of separation across the three major stakeholder markets of asset managers, distribution professionals, and wealth management advisors.
Hortz: Can you further explain some of these verticals you launched on your platform?
Moran: FLX Intelligence, FLX Media and Flex Data Vault are the verticals that are live on the platform:
FLX Intelligence allows asset management member firms to post market outlooks and insights to directly reach FLX network distribution professionals. Along with industry thought leadership, research, continuing education, and FLX TV, it can help financial professionals develop alpha-generating ideas and investment strategies. It provides a curated, differentiated experience with access to dynamic personalities, thought leadership content, and the ready access to schedule calls with analysts from around the globe.
FLX Media is a creative hub that shares a common axis with FLX Distribution members looking to broaden their reach with video content. We provide value by creating an authentic and practical experience that aligns people, services, and products while showcasing your credibility.
FLX Data Vault allows asset management firm members to distribute investment portfolio data to intermediaries, compliance, sales, and marketing quickly and at low costs. Distribution has many complex factors that influence its result. And one of the factors that can influence results is the database and the request for proposal (RFP) community that are really important to asset managers increasing the visibility of their products, gaining brand visibility for what they do, and how they perform versus their peer groups ensuring investment research teams, platform gatekeepers, or institutional consultants who heavily rely on these tools and conduct the appropriate oversight that they want to and need to do.
Hortz: How are you developing your FLX Solutions Providers group? What kind of services are you orchestrating and what do they currently offer your platform clients?
Moran: Solutions Providers within the FLX Distribution Marketplace will include the following categories: Benefit Services, Coaches, Consultants, Data Analytics, Education, Finance and Accounting, Fund Services, Legal and Compliance, Marketing, Outsourced Trading, Portfolio Construction, Public Relations, Strategists, Value Add, Virtual Assistants, Web and IT Development.
Hortz: Any last thoughts about the changing financial services industry you would like to share with us?
Moran: We fundamentally believe there is a changing landscape in how investment products must be distributed moving forward. As part of this movement, we aim to revolutionize the distribution experience that occurs between all stakeholders in the process. We are also especially proud to be a part of the shift where the distribution model is changing from an interruption-based approach to a collaborative invitation model. We feel there is an inevitability that this new closeness will drive creative and effective engagement between asset managers, wealth management advisors, and distribution professionals in the future.
FLX Distribution’s innovative technological approach with our scalable platform, flexible business model, and access to key decision makers can disrupt the traditional value chain from manufacturer to distributor to advisor in a way never done before. The FLX platform provides the necessary data, connections, and transparency; allows us to act as a true consultant to all stakeholders; and increase creative engagement between all industry professionals to help them identify optimal ways to partner for win-win solutions.
The Institute for Innovation Development is an educational and business development catalyst for growth-oriented financial advisors and financial services firms determined to lead their businesses in an operating environment of accelerating business and cultural change. We position our members with the necessary ongoing innovation resources and best practices to drive and facilitate their next-generation growth, differentiation, and unique client/community engagement strategies. The institute was launched with the support and foresight of our founding sponsors—NASDAQ, Ultimus Fund Solutions, Pershing, Fidelity, Voya Financial, and Charter Financial Publishing (publisher of Financial Advisor magazine).