The acquisition is expected to strengthen FolioDynamix’ market share in the bank trust channel and it positions the company as the only provider to deliver a single wealth management platform that can be leveraged by both bank trusts and brokerages to manage the full advisory and portfolio management lifecycle across all accounts.
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Also, firms having both trust and retail brokerage channels will be able to bridge the gap with FolioDynamix’ unified wealth management platform.
Access Partners provides bank trust advisory services and has broad connectivity into bank trust systems and also has high-quality managers, all of which will complement FolioDynamix’ full wealth lifecycle technology platform, multi-custodian connectivity capabilities and strong advisory services business.
Commenting on the move, Robert Mehringer, CEO of Access Partners said: "Access Partners is excited about joining the FolioDynamix family. Our clients will benefit from our move to a stronger wealth management technology platform and the ability to expand beyond separately managed accounts into model portfolios. Our advisory team is looking forward to having greater resources to draw on in attracting and servicing clients and being able to offer new innovative programs."
Joseph Mrak, president and CEO of FolioDynamix added: "Access Partners brings a great deal to our business – including an expanded set of SMA managers, research and client access, consulting and field support resources, and a tremendous amount of expertise in the bank trust space."
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