I am currently running a wet dry filter on my FOLWR tank and started going more towards building a reef tank. Would it be best to switch over to a refugium rather than sticking with a wet/dry filter? If so, why?
eric hit the nail on the head. live rock are able to hold all the bacteria you need.
a wet/dry filter's purpose is to house nitrifying bacteria, live rock can house nitrifying and denitrifying bacteria putting it one step above wet/dry filters.
a refugium would be designed for nutrient export, or to export phosphates and nitrates along with other nutrients after the live rock or wet/dry filter have broken detritus and fish poop down into nitrates, phosphates and other nutrients.
a refugium is not a replacement for a wet/dry filter or live rock but rather a extension to help export nutrients.
So to answer your question, ditch the wet/dry. whether or not you run a refugium is more up to you and your maintenance routine. if your cleaning your tank well enough a refugium shouldn't be needed to control nutrients. if you find your ideal maintenance routine doesn't quite do the trick then you could benefit from a refugium and should also reconsider your maintenance routine.