Interactive Brokers is acquiring Folio Investments – a subsidiary of Folio Financial from Goldman Sachs, Motley Fool reports. Goldman bought the retail brokerage firm in mid-September and will retain Folio’s clearing and custody services.
- Interactive expects to add about $3 billion in client equity from about 70,000 self-directed investors of Folio’s investment business after the acquisition.
- Interactive said the acquisition would allow Folio Investments’ former clients to invest in stocks, options, futures, currencies, bonds, and funds worldwide from a single, integrated account.
- Interactive had almost 1.04 million customer accounts at the end of November, 52% higher than the same point in 2019, while the client equity rose by 61% to almost $269 billion during the period.
Interactive stock is currently declining. IBKR: NASDAQ is down 2.45%
