Braving setbacks, FinFolio wins a $1.6 billion RIA and dark-horses its way on to the software track
Index Fund Advisors carefully vetted Tamarac, Orion and Black Diamond for a year but gambled on the newer, smaller vendor -- with the veteran quarterback, Matt Abar
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RIA Quick Takes: Orion deepens DFA embrace by using it as portfolio manager-inside-ETF ~ Hardship withdrawals surge at Vanguard and Fidelity ~ Schwab hires 400 ~ Fidelity flips six funds into ETFs ~ Kitces makes list before Christmas ~ Amit Dogra has $1 billion of good news from his new Portland gig
Americans are struggling, though jobs are plentiful; Larry Fink's ESG zeal costs BlackRock another client, just as the Vatican issues ESG guidance; UBS says we didn't like you anyway to mass affluent and Michael Kitces and Craig Iskowitz join forces.
December 3, 2022 at 3:16 AM
Noreen Beaman steps down as president of Orion Advisor Solutions after Brinker migrates to Orion software and enterprise deals 'prove out'
The former Brinker CEO oversaw an 18-month transition of her then $26-billion TAMP and will remain as vice chair of the company after 'mutual' decision on role changes.
February 10, 2022 at 2:22 AM
Brad Shepard unexpectedly resigns from Orion Advisor Services after 10 months, and his chief strategy officer position will remain vacant, the company says
The Nashville, Tenn. executive came aboard to create a 'go-to-marketing strategy' for Brinker, HiddenLevers and legacy units but gave his notice this week.
January 7, 2022 at 11:40 PM
After adding an ex-iShares product chief to call the shots and -- oye -- lowering fees, Dimensional Fund Advisors humbly and belatedly charges into ETFs and should score $5 billion in two years, an analyst says
DFA nabbed Nicole Hunter's BlackRock ETF playbook and committed to ETF-level fees to show the industry it plans to play to win assets -- even if some come from within.
November 12, 2020 at 4:43 AM
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Bill Winterberg
“it made sense economically to drop its outsourcer and go in-house and use existing staff.”
Wow, I’m amazed at that statement. They have 7 FT EEs who, in one form or another, will need to take time to reconcile and massage daily portfolio data (among other things), which likely is not their highest and best use.
And that came in at a lower price than an outsourced provider?!?
Matt Abar
Hi Bill,
FinFolio has a patent-pending error and alert system that identifies data errors. It makes it much easier for advisers to manage databases. And it’s allowed FinFolio to make our data interfaces extremely accurate. I’m not sure this is entirely the reason IFA was able to use existing staff, but we get rave reviews about the alerts from our other advisers.
Data management isn’t as hard as it used to be. ;-)
Regards,
Matt Abar
Dan Gleason
As a follow-up on our conversion from BOSS/Portfolio Center to FinFolio, I can tell you that the reconciliation process that we were concerned about 6 months ago, has proved to be a non-issue as we are a bit more than 30 days into our cut-over to FinFolio here.
Originally, Eddie Wong and I discussed the possibility of the Client Services Reps performing the recon process for the Advisors they supported (to help spread the workload to several bodies), but in the end it turned out to be the job of one person for between 20 to 60 minutes each morning and without much excitement or complaints (hat’s off to Matt’s Errors and Alert’s system). I think an article should be written to explain how that works since the recon process seems to have this air of the “Wizard behind the curtain” to it when we were considering taking this process in-house.
I’ve got to admit that I am happily shocked to discover the reconciliation process was not the nail-biting, problem solving, data correction nightmare that I had heard it might be before we began this.
Director of IT
Index Funds Advisors
