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November 2nd, 2016

FolioDynamix Announces Acquisition of Summit Advisor Solutions

Institutional-grade trading and rebalancing solutions now paired with advisor-friendly interface and expert operational support for RIAs of any size 

NEW YORK, NY – November 2, 2016 – FolioDynamix, a leading provider of wealth management technology and advisory services, today announced the acquisition of the assets of Summit Advisor Solutions (“SAS”), a Dallas-based firm focused on providing advisory services in the RIA market. SAS will transition its technology and advisors over to the FolioDynamix platform under the firm’s “FDX Complete” offering, which is an out-of-the-box advisory and technology solution for RIAs of any size. The move is a clear signal that FolioDynamix is committed to continued investment in growing the business organically, as well as through both strategic partnerships and acquisition. The pairing of the SAS advisor-friendly front end with the FolioDynamix enterprise chassis results in a state-of-the-art, comprehensive digital solution for the RIA marketplace.

“This is an exciting acquisition for us and will really help us move the needle in the advisory space,” says FolioDynamix CEO Joe Mrak. “As an industry, we are seeing more and more advisors go the independent RIA route, and we think the technology solution we bring to market is exactly what these advisors need to grow their businesses exponentially, across custodial platforms.”

SAS specializes in RIA-specific technology and advisory consulting and offers access to proprietary allocations (which will be assumed by FDx Advisors) and third-party managers. Both SAS and FDx Advisors’ clients will benefit from an expanded roster of third-party managers and the ongoing support of a best execution trade desk. The SAS approach and offering neatly complement the FolioDynamix core trading platform and advisory solutions. Combining the powerful trading and rebalancing solution that FolioDynamix offers in the enterprise space with the experience, advisor-facing screens, and operational depth of the SAS platform means advisors who wish to run their own portfolios and models can efficiently do so, leveraging institutional-grade technology.  Existing clients will benefit by expanding the range of advisory services they can offer and service, regardless of where they custody—while also providing a more competitive recruiting value proposition. 

The pairing of the existing FDx Complete and SAS solutions creates a unique value proposition in the industry—a full service TAMP that offers advisor-as-a-portfolio-manager capability with quick implementation and multi-custodial access.

FolioDynamix will take over SAS’s Dallas office.

About FolioDynamix

FolioDynamix is leading the evolution of the wealth management experience, with an end-to-end technology solution paired with a suite of advisory tools including model portfolios, research, and overlay management services. Through our powerful technology platform, advisors can manage the entire client lifecycle from proposal generation to account opening to account management (trading and rebalancing) to reporting, all through a sophisticated but easy-to-use cloud-based solution. FolioDynamix is an Actua company (Nasdaq: ACTA). Visit www.foliodynamix.com. Follow us on Twitter @foliodx.

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