Goldman Sachs pushes into the independent advisory channel
May 15, 2020
Louis Diamond Quoted
By Ian Wenik
Goldman Sachs, RIA custodian?
Industry experts told Citywire that this might be the thinking underlying the financial services goliath’s latest acquisition: Folio Financial, an online broker and custodian in McLean, Va. Financial terms of the transaction, which Folio revealed on Thursday, were not disclosed.
“I am really interested in this deal to see how or if Goldman Sachs becomes a major custodian,’ said Louis Diamond, an executive vice president at advisor consulting and recruiting firm Diamond Consultants.