Wallman won’t discuss assets at FOLIOfn, but the firm custodies for about 450 RIA firms, which account for about 80 percent of its assets.
His “bread and butter” advisory client has $250 million or less, but Wallman said the firm is getting more interest from larger RIA shops that “are not so big that they’ve built everything around someone’s custody platform and feel they can’t change. … They need to have some differentiation [and] they’re not getting that at the large custodians.”
The SRI investing event—the longest running of its kind—is run by First Affirmative Financial Network, an RIA firm based in Colorado Springs. FOLIOfn bought First Affirmative a year ago.
First Affirmative runs SMA portfolios on the FOLIOfn system.
(The “SRI” in the conference name stands for “sustainable, responsible, impact” investing, a broader description than the old socially responsible investing moniker, according to organizers.)