12/19/2023 0 Comments Folio client![]() ![]() Interactive Brokers’ latest takeover comes amid a swirl of M&A within the industry. Like us, Interactive Brokers is a member of FINRA and SIPC.” Interactive Brokers will provide you with features and products not currently available through Folio, such as the ability to trade options and access international securities markets. This means we will no longer provide our services to self-directed investors. In a letter informing customers of the sale on Friday, Folio said: “At this time, we’ve decided to focus on our core business of supporting investment advisors with technology, custodial, brokerage and other services. A Consolidation Wave in Brokerage Space Continues The global bank will retain Folio’s wealth management and custodial division business, which has $11 billion in assets under custody for registered investment advisers. The news comes barely two months after Goldman Sachs acquired Folio Financial for an undisclosed amount of money. Interactive Brokers reported 2.29 million daily average revenue trades, or DARTS, and 1.037 million active accounts in November 2020.
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