Models-based brokerage names Vigrass to head institutional-support group. FOLIOfn, a direct-to-client, models-based broker-dealer has promoted Greg Vigrass to the new position of president and CEO of FOLIOfn Institutional. The move reflects the growth of FOLIOfn's advisor-directed business.

"Independent broker-dealers, RIAs and wealth managers contribute significantly to the success of FOLIOfn," says Vigrass. "The creation of this new position is in direct response to the steady and strong growth of FOLIOfn in the institutional marketplace."

Fractions

Vienna, Va.-based FOLIOfn has about 175 institutional business partners who manage client assets through FOLIOAdvisor. The company says it expects to enhance their services with "new functionality and scalability" next year. This "development promises to complement well this additional management and sales attention in the institutional space," according to a FOLIOfn press release.

FOLIOfn's Steven Wallman founder and CEO says that advisors are "coming to appreciate the power, time savings and cost savings of managing money on our unique platform." FOLIOfn lets advisors devise low-minimum separately managed account-style portfolios for their clients using fractional shares.

Vigrass has been with FOLIOfn for several years. Before that he was a marketing v.p. with Globenet Capital. Prior to that, he was a salesman with Schwab Institutional. -FWR

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