Folio Rolls Out Robo Platform for Advisors, Investors
The technology allows for goals-based financial planning and specialized portfolio building.
Its Digital Wealth Platform supports automated, human and hybrid-advised businesses and their clients, while working with Folio’s brokerage, clearing and custody technology.
“First-generation robo-advisors helped set the stage for simple advice automation, but they have fallen short in helping financial institutions and advisors extend their trusted advisor relationship into the digital element,” according to Folio Institutional President Greg Vigrass.
“With … DWP, financial institutions and advisors can now deliver … an automated, end-to-end digital experience that replicates the type of personalized, professional advice that traditionally has only been available to private institutions and ultra-high net worth individuals — all from one platform and at a lower cost,” Vigrass explained in a statement.
The technology eliminates the need for advisors to add robos from third-party automated providers, for instance. It can work with model-based portfolios, multi-manager programs and more customized strategies, the firm says.
Folio works with about 450 broker-dealers, RIAs, custodians, robo-advisors and other financial firms.