Call it the largest company you’ve never heard of, even though it goes head-to-head with Envestnet and other large industry mainstays.
Founded in 2007 via acquisitions, FolioDynamix has $727 billion in assets under advisement, 4.8 million active accounts, over 95,000 advisors users on their platform and $20.8 billion in AUM ($3.4 billion with discretion).
It serves brokerage firms, banks, large RIAs and RIA networks and other fee-based managed account providers from offices in Secaucus, New Jersey; Sacramento, California; Evansville, Indiana; and Columbus, Ohio.
Yet Chris Ollendike is happy to be the man behind the curtain.
“We offer model strategies, research and due diligence on managers, model portfolios and we also run assets for smaller broker-dealers,” the firm’s senior vice president of business development explained at the TechLeaders 2015 conference in Dallas in late March. “We have white-labeled trading tools, and we can act as a TAMP or point solution, it all depends on the client.”
Got all that? And despite their tremendous output, they’re hardly ready to take a break.
“We’re incredibly innovative, and aim for two releases a year,” added Jonathan Ferrara, the firm’s senior vice president of product development. “I’ve been with the firm for six years. We’ve spent all of that time building core applications and straight-through order processing, which we tested with firms like Pershing and LPL Financial. We now have thousands of advisors all on at the same time using the platform.”
Now that it’s up and running, Ferrara and his team are shifting toward the user experience.