The aim of this work was to characterize the behavior of a novel multiuse B-free alloy that was designed as a liquid phase promoter and as a filler material for sintering and brazing steels in N-2-H-2. Through thermodynamic calculations, a new Cu-Fe-Ni-Si alloy (named LP) has been designed showing a proper melting point suitable for being used at temperatures below 1100 degrees C, with good wetting behavior that allows it use as brazing material and liquid phase former. This new boron-free alloy has shown good dimensional behavior, good brazeability, and competitive mechanical properties. These demonstrated features allow the developed alloy it use as braze material for PM parts in industrial furnaces as well as master alloy to promote transient liquid phase in PM structural steels.