NEW YORK, September 18, 2020 — Today 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. Folio Financial has developed a differentiated technology offering that provides institutional grade clearing and custody services to RIAs. This will enhance the firm’s own offerings to RIAs while expanding its client base in that segment.
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.
Folio’s platform enables advisors to create customized and diversified portfolios in a scalable way. Looking forward, RIAs will have access to rich analytics and services through a comprehensive suite of Application...
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By Jemma Wolfe, Stephanie Cohen, & Margaret Anadu
What can a fraud detection company learn from a vegan cookie company? How are the IPO trends within the payments sector affecting the broader fintech ecosystem? Which tricks do repeat founders employ that no one tells you when you raise a seed round? Once you’ve successfully exited a company, how do you create a long-lasting legacy that increases equity and access for more founders?
While these questions may seem wide-ranging, we tackled them all (and more) this summer with the inaugural Launch With GS Black and Latinx Entrepreneur Cohort. Although this was our first official Cohort, the experience was more than two years in the making. When we opened applications in February 2020, we never could have predicted the immense hardships this summer would bring – from a global pandemic to the murders of George Floyd, Ahmaud Arbery, Breonna Taylor, and many others.
However, our...
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