FolioDynamix, an expert in wealth management technology, announced the release of Version 6.1 of its FDx SingleSight wealth management software platform.

In today’s business environment, wealth management firms are challenged to deliver superior performance to the clients without raising the operational costs and maintaining compliance with new and changing regulations. FolioDynamix officials said that based on a comprehensive set of research and analytics, its modern Web-based wealth management technology frees wealth management firms from the constraints of legacy, siloed technology and manual processes.

FDx SingleSight wealth management software platform gives firms a platform they need to be more efficient, compliant and agile in the increasingly competitive wealth management industry, FolioDynamix officials said.

FDx SingleSigh has been designed to support an array of program offerings and account types which include separately managed accounts (SMA (News - Alert)), unified managed accounts (UMA), unified managed household (UMH), mutual fund wrap (MFW), rep-directed, discretionary and non-discretionary.

In its latest version, FDx SingleSigh comes with enhanced functionality. The version 6.1 includes enhanced business process management workflows, which allows increased visibility and active management of multiple account types.

The upgraded version is also equipped with wealth monitoring and management dashboards. Enhanced modeling and account program functionality has been added to create a highly configurable sponsor investment program set, allowing for flexible multi-program management in a single, enterprise-wide platform.

With its complete integration to the FDx Connect model exchange hub, the upgraded software enables seamless access to research and third-party money managers for a centralized visibility. This full integration also enables rapid deployment of new investment strategies and updating of investment models.

“This latest release of the FolioDynamix wealth management software platform reflects our ongoing commitment to innovation. By providing wealth services providers, broker dealers, large RIAs, custodians, and banks with modern technology for the programs and areas of the wealth management lifecycle that are most critical to them, FolioDynamix is delivering a unique value proposition that can help firms position themselves as leaders in the wealth management industry. It's a new year and wealth management firms are looking for new ways to differentiate, transform and grow -- FolioDynamix should be a key component of that growth strategy,”  president and CEO of FolioDynamix Joseph Mrak explained in a statement.

Last month, the company announced a new hire as Steeve Rooney was appointed as chief client officer. Earlier, FolioDynamix announced the appointment of a new chief operating officer in response to its fast growth, which is driven by increasing demand from wealth management service providers seeking more modern technology platforms and open architecture investment programs and strategies.

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