Formulary Financial, Inc.

Our mission is to be the most reliable

operations partner to asset managers

We built Formulary to pioneer the next frontier in fund administration services.

Today, fund administration is a pain point for asset managers and accountants who service them.

Accountants spend more than 70% of their time on repetitive, administrative work and error-prone data entry instead of servicing clients. As a result, most general partners run shadow accounting processes, and limited partners receive delayed, inaccurate reporting.

At Formulary, we are transforming fund administration from the core. Our technology is purpose-built to turbocharge accountants, accelerate productivity of general partners and deliver a seamless experience for investors.

Our core belief is that fund administration should be human led. As such, we are intentional in building a unified technology platform that fosters collaboration and thought partnership between accountants and their clients.

Led by experts in financial technology,
applied AI and fund administration

Leadership

Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.

Next: Chief Technology Officer
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Rick brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure and AI threat models while designing a next-generation security operations query language. Prior to his role at Meta, Rick spent over a decade at Bridgewater Associates in various technical and leadership roles. While at Bridgewater, he worked for Dr. Dave Ferrucci, Director of Applied Artificial Intelligence and former Chief Scientist of IBM Watson, where Rick owned the data and infrastructure for the research and development of explicable
AI models.
Next: Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next: Founder & CEO
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.

Next: Chief Technology Officer
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Rick brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure and AI threat models while designing a next-generation security operations query language. Prior to his role at Meta, Rick spent over a decade at Bridgewater Associates in various technical and leadership roles. While at Bridgewater, he worked for Dr. Dave Ferrucci, Director of Applied Artificial Intelligence and former Chief Scientist of IBM Watson, where Rick owned the data and infrastructure for the research and development of explicable
AI models.
Next: Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next: Founder & CEO
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.

Next: Chief Technology Officer
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Rick brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure and AI threat models while designing a next-generation security operations query language. Prior to his role at Meta, Rick spent over a decade at Bridgewater Associates in various technical and leadership roles. While at Bridgewater, he worked for Dr. Dave Ferrucci, Director of Applied Artificial Intelligence and former Chief Scientist of IBM Watson, where Rick owned the data and infrastructure for the research and development of explicable
AI models.
Next: Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next: Founder & CEO
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.

Next: Chief Technology Officer
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Rick brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure and AI threat models while designing a next-generation security operations query language. Prior to his role at Meta, Rick spent over a decade at Bridgewater Associates in various technical and leadership roles. While at Bridgewater, he worked for Dr. Dave Ferrucci, Director of Applied Artificial Intelligence and former Chief Scientist of IBM Watson, where Rick owned the data and infrastructure for the research and development of explicable
AI models.
Next: Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next: Founder & CEO

Values

How we work

TrusT

We ensure integrity and transparency across all dimensions of the business.

Excellence

We pursue audacious goals and aspire
to become world-class at what we do.

CLIENT-Centricity

We put needs, priorities and interests
of clients at the heart of every decision.

GROWTH

We give and receive feedback with genuine humility, and fight for the best ideas over personal ego and hierarchy.

OWNERSHIP

We obsess over relentless execution and personal impact. We draw deep meaning and joy from working as a team to solve the hardest problems we have ever encountered.

CAREERS

Join the team building the future of fund administration services with modern technology

Roman STEINBERG, Founding Engineer

We know that the best way to predict the future is to create it. Our team is mission-driven, collaborative and focused on shaping the future of fund administration services with modern technology.

If this sounds like you, contact us to learn more.

INQUIRE ABOUT OPEN ROLES AT FORMULARY