I met with Joseph Mrak, Chairman & CEO of FolioDynamix, between sessions at T3 Enterprise 2015 to dive into the details of what he discussed during his general session presentation at the conference.
Over 80,000 advisors use the FolioDynamix platform which includes functionality for prospecting, account opening and ongoing account maintenance.
FolioDynamix also offers Fix SingleSight, an all in one platform for advisor and home office investment management.
Mrak used his presentation time to address the threats and opportunities posed by robo advisors in the wealth management industry.
“I’ve got nothing against robos,” Mrak said, “I just don’t find them all that novel,” and added that he was closely following the growth of such servives, citing this Economist article on disappointing growth at the largest automated investment services today.