US-based FolioDynamix has completed the acquisition of GlobalBridge, a developer of technology solutions for financial institutions.
This acquisition is expected to expand FolioDynamix’s market share as well as its client base of registered investment advisors.
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FolioDynamix said that GlobalBridge is an excellent complement to its full wealth lifecycle technology platform and multi-custodian connectivity capabilities.
Joseph Mrak, chairman and CEO of FolioDynamix, said: "We are pleased to welcome the GlobalBridge team and client base to FolioDynamix. GlobalBridge brings a great deal to our business, including experience with FolioDynamix advisory services and technology, expertise in the bank trust space and a broad client base of banks and RIAs.
"With the GlobalBridge acquisition we now provide advisory platform services to over 60 banks ranging from top 10 national institutions to mid-size super regional banks to small community banks, making FolioDynamix the undisputed leader in the bank channel providing end-to-end wealth management solutions."
Paul Perske, CEO of GlobalBridge, added: "By joining FolioDynamix, our clients will benefit from our move to a stronger wealth management technology platform, and we will have greater resources to draw on in attracting and servicing clients and developing new innovative wealth management programs."
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