FLX Networks, which facilitates communication between asset managers and financial advisors, has selected Broadridge Financial Solutions as a preferred data and analytics provider to asset management companies.

As part of the tie-up, FLX will use Broadridge analytics and inputs to fuel its distribution services that are offered to asset managers.

The alliance will also see Broadridge providing its sales and market analytics as well as global market intelligence (GMI) solutions to clients on the FLX platform. This will help the clients with market and product analysis to create improved distribution plans.

The partnership comes at a time when asset management outfits are forging alliances with digital platforms to roll out new products and eliminate the risk of entering new markets, according to Broadridge.

FLX founder and CEO Brian Moran said: “Broadridge’s analytics capabilities add powerful insights to guide targeted distribution and product strategies, allowing FLX to deliver a comprehensive data and analytics-enabled offering.

“These powerful and efficient tools will help FLX support asset managers as they expand and grow.”

FLX solutions are currently said to be used by asset managers to execute an efficient distribution solution.

Broadridge data and analytics head Dan Cwenar said: “Embedding Broadridge’s data and analytics solutions into FLX’s suite of distribution capabilities creates a powerful engine for asset managers to grow their assets, mutualise middle-office distribution costs, and defray fixed investments required to launch new strategies.

“FLX has demonstrated its ability to grow clients’ assets, and we are excited to partner with FLX to support and accelerate that growth.”

The latest partnership comes shortly after Broadridge announced an expansion of its multi-year digital wealth platform collaboration with IG Wealth Management.