Folio Investing to be Acquired by Goldman Sachs
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Folio Investing to be Acquired by Goldman Sachs Here is some interesting information about Folio Investing. i attached a copy of the announcement from Folio's website. Of course the question is what does it mean to Clubs that use Folio as their brokerage? https://www.foliofinancial.com/a-message-from-our-ceo-steve-wallman?hs_preview=AdaRaoOH-29300904742 An article I found on Google news discussing the acquisition and providing more detail. https://advisorhub.com/goldman-to-buy-folio-financial-to-expand-into-ria-custody-business/ I called GS (1205 EDT) three times to inquire what effect the GS acquisition will have on investment clubs. The first two calls were hung up on, but on the third call I struck gold (or maybe it was only iron pyrite). They told me to call back Monday. On Sat, May 16, 2020 at 11:50 AM Leonard E. Douglass via bivio.com <user*20291800001@bivio.com> wrote: An article I found on Google news discussing the acquisition I called Folio and they say they will become a subsidiary of GS. As such, absolutely nothing is going to change with club accounts. On Sat, May 16, 2020 at 12:22 PM Stuart Lange <gslange@gmail.com> wrote:
I guess time will tell. The folio page is entirely different which happened sometime in the past month because it was a bout amount ago that I was on it. -----Original Message----- From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Leonard E. Douglass via bivio.com Sent: Saturday, May 16, 2020 10:32 AM To: club_cafe@bivio.com Subject: [club_cafe] Folio Investing to be Acquired by Goldman Sachs Here is some interesting information about Folio Investing. i attached a copy of the announcement from Folio's website. Of course the question is what does it mean to Clubs that use Folio as their brokerage? https://www.foliofinancial.com/a-message-from-our-ceo-steve-wallman?hs_previ ew=AdaRaoOH-29300904742 Well, that sounded like so much blah-blah-blah. I wonder how much the 90 then 120 day hold had to do with this. Sent via the Samsung Galaxy S10, an AT&T 5G Evolution capable smartphone -------- Original message -------- From: "Leonard E. Douglass via bivio.com" <user*20291800001@bivio.com> Date: 5/16/20 10:32 AM (GMT-05:00) To: club_cafe@bivio.com Subject: [club_cafe] Folio Investing to be Acquired by Goldman Sachs i attached a copy of the announcement from Folio's website. Of course the question is what does it mean to Clubs that use Folio as their brokerage? https://www.foliofinancial.com/a-message-from-our-ceo-steve-wallman?hs_preview=AdaRaoOH-29300904742 I wish I understood all the terminology but interesting. Sent via the Samsung Galaxy S10, an AT&T 5G Evolution capable smartphone -------- Original message -------- From: "Leonard E. Douglass via bivio.com" <user*20291800001@bivio.com> Date: 5/16/20 11:50 AM (GMT-05:00) To: club_cafe@bivio.com Subject: [club_cafe] Re: Folio Investing to be Acquired by Goldman Sachs and providing more detail. https://advisorhub.com/goldman-to-buy-folio-financial-to-expand-into-ria-custody-business/ From a different source an article from RIABiz giving more perspective on the state of Folio. https://riabiz.com/a/2020/5/15/goldman-sachs-buys-folio-to-gain-an-ria-custody-toehold-and-gets-robo-advisors-in-the-bargain-days-after-schwab-buys-motif |
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