According to FolioDynamix, its FDx platform is a configurable, thin-client application with tools to manage a portfolio through the lifecycle of an account, including a fully proprietary tax lot and cost accounting engine, new account opening tools, model management, multi-account trading, re-balancing, fee billing, management reporting and performance reporting.
It is reported that Bonaire’s Revport revenue management and fee billing system creates compliant-driven audit trails that eliminate time-intensive and error-prone manual processes and calculations. Through the arrangement with Bonaire, clients of FolioDynamix reportedly have the capability to automatically calculate different fees including multi-currency, asset management, wrap, performance and 12b-1, as well as sub-advisor payouts and commissions associated with accounts and portfolios.
Aaron Schumm, senior vice president of FolioDynamix, said: Complexity of product offerings within the fee-based business logically extends to billing and fee calculations. Rapid account growth and fee-split requirements necessitate a solution, such as that offered by FolioDynamix and Bonaire, to streamline an otherwise unwieldy and even costly set of manual procedures.
John Bosley, COO of Bonaire Software Solutions, said: Through partnering with FolioDynamix, we have the opportunity to introduce our software solutions to a market that is increasingly faced with more complicated fee and revenue management processes. Revport’s proven ability to address these issues in a cost-effective manner will generate considerable interest and demand from both managers and sponsors in the wealth management space.
