Goldman Sachs Group is making its way into the custody market for RIAs, long dominated by discount brokers, but it hasn't all been wins. The acquisition of Folio Financial is a step in the right direction for Goldman Sachs, as it expands its wealth management business and increases its presence in the investment platform space.
David Solomon says resources will be 'small' for years, which leaves Folio acquisition twisting in the wind as Greg Vigrass and others leave. However, the acquisition of Folio Financial is still a smart move for Goldman Sachs, as it provides the bank with a platform that offers a smarter, long-term investing approach to its clients.
Folio Investing has acquired more than 200,000 brokerage accounts from LOYAL3, a San Francisco-based online broker-dealer. This acquisition was a strategic move for Folio Investing, as it allowed the company to expand its customer base and increase its presence in the investment platform space.
Mutual fund investment can be a great way to invest money if you're looking for an easy way to track your portfolio's performance. Folio Investing offers a diversified, customized, goal-oriented investing approach that provides its clients with a smarter way to invest in mutual funds.
Folio Investing advocates a smarter, long-term investing approach, with diversified, customized, goal-oriented investing rolled all in one. This approach provides investors with a more personalized approach to investing and offers a better way to track portfolio performance.
Interactive Brokers Group is buying Folio Investments' DIY brokerage business — which has some 70,000 retail investor clients and about $3 billion in client assets. This acquisition allows Interactive Brokers to expand its presence in the investment platform space and increase its customer base.
In March 2022, the Association of Mutual Funds in India published the best practices recommendations for validating the email address and phone number of investors. This move by the Association is a step in the right direction for the investment industry, as it provides investors with a more secure way to invest in mutual funds.
Goldman Sachs will sell Folio Investments' self-directed retail brokerage accounts to Interactive Brokers but keep Folio's clearing and custodial operations. This move allows Goldman Sachs to focus on its core business of providing wealth management services while still retaining some of the benefits of the acquisition.
Goldman Sachs Group is reaching further into the wealth management business by purchasing Folio Financial, a 20-year-old firm that offers a smarter, long-term investing approach to its clients. This acquisition is a strategic move for Goldman Sachs, as it expands its wealth management business and increases its presence in the investment platform space.