Through two decades of remarkable dedication by the devoted and talented employees of our firm, we evolved into a unique brokerage, custodian, and financial technology company, delivering advanced investment solutions to investors and the advisors that serve them. Steve Wallman, founder and CEO of Folio Financial, Inc., remarked: “In 2000, Folio was created to revolutionize the way people invest. “We are excited to integrate Folio’s technology platform with our client service expertise to broaden our franchise and expand our product offering to new and existing clients.” “The RIA space is large, estimated at roughly $5T, and fast growing,” said Philip Berlinski, Global Chief Operating Officer of Goldman Sachs’ Equities Division. Over time, this will further diversify the firm’s funding mix, and add durable recurring revenues to its Global Markets Division. Looking forward, RIAs will have access to rich analytics and services through a comprehensive suite of Application Programming Interfaces (APIs), all part of a fully-integrated Goldman Sachs execution, clearing, and custody solution. This acquisition combines Goldman Sachs’ decades of experience providing execution, clearing and custody capabilities to institutional and ultra-high net worth clients with Folio’s state-of-the-art technology offering across the RIA market.įolio’s platform enables advisors to create customized and diversified portfolios in a scalable way. This will enhance the firm’s own offerings to RIAs while expanding its client base in that segment. Folio Financial has developed a differentiated technology offering that provides institutional grade clearing and custody services to RIAs. NEW YORK, SeptemToday Goldman Sachs (NYSE:GS) will successfully complete its purchase of Folio Financial, Inc., an execution, clearing and custody platform that serves independent Registered Investment Advisors (“RIAs”) across the wealth spectrum.
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