FolioDynamix, a provider of on-demand technology and product solutions to wealth management firms and their affiliated investment advisers, has received a USD16m investment led by growth equity firm ABS Capital Partners.
FolioDynamix will use the funds to extend the breadth of its technology platform and invest in sales and marketing.
As a result of the financing, ABS Capital general partner Cal Wheaton and chairman and founding partner Don Hebb will join the company’s board of directors.
“This investment is a clear indication of how we’re changing wealth management,” says FolioDynamix chief executive Joseph Mrak. “Firms and their clients demand a flexible and trustworthy solution to adapt to the needs of an account throughout its lifecycle. Our solution allows our client’s advisors to spend more time working with their clients and growing assets, not tinkering with software.”
FolioDynamix offers both a technology platform and advisory services. FDxSingleSight, the company’s wealth servicing platform, is a customisable turn-key asset management programme that can be delivered in a bundled or unbundled manner, allowing the company to address the specific needs of the end customer without unnecessary additional costs or limits on flexibility.
FDx Advisors, a registered investment adviser, has daily oversight of more than USD13.6bn in assets and offers institutional quality third-party manager research and access, custom investment programme development, and discretionary investment solutions.
“We heard again and again from FolioDynamix’ clients how much they valued the management team’s industry knowledge and the flexibility that the company offers in its products,” says Wheaton. “We believe our success in the technology sector, combined with our experience in the financial and wealth advisory industries, will be valuable to FolioDynamix as the company expands its offering and continues to accelerate its growth.”
