“The need for socially responsible and impact-oriented investment solutions is an area where we have a lot of strength,” says Vigrass. “Our platform lends itself naturally to it.”
Many of Folio’s trading processes are intended for automation, meaning that advisors don’t have to think about their clients’ preferences when they initiate trades across their book of business. Folio’s Advisor Connexion brings automated work flows across administrative areas of a planning practice. The firm’s platform also offers dynamic performance reporting and automated fee-based billing on its platform.
Vigrass said that future updates will include redesigns to the client interface, more flexibility and access to third-party tools, and data integration across client assets.
Looking further into the future, Folio will incorporate predictive analytics and machine learning into its platform.
Challenging The Establishment
Today, custodians aren’t just trying to build out RIA technology as a useful add-on for their clients; they’re actively competing for RIAs’ custody business with their technology platforms. Meanwhile, a crop of smaller, technology-oriented custodians are also challenging the established megafirms for advisors’ business.
Financial advisors have become the winners in this competition as the advancing technology creates more time- and cost-efficient firms across the industry.