FolioDynamix, a New York-based firm focused on fee-based managed account solutions for the wealth management industry, and Scott & Stringfellow, a full service regional brokerage and financial services firm based in Richmond, Virginia, designed the program to target investor needs, such as early accumulation, retirement distribution, preservation and growth of capital.
Scott & Stringfellow is using Folio’s technology and services to build their fee-based advisory offerings in an integrated fashion. Key services include contracts with manager’s proprietary research, tear sheets, household proposal generation and IPS tools, overlay management tools, trade order management, billing, and household performance reporting.
Their goal is to roll several programs into the new UMA. “We were able to close out legacy programs that were redundant in nature and roll them into the UMA and offer our client’s a more flexible offering with even greater manager and fund access,” said Drew Jackson, Manager of Fee Based Programs of Scott & Stringfellow, in a news release. “Our strategy is to provide a single platform for all accounts,” he added.