Goldman Sachs to buy boutique wealth management custodian Folio

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NEW YORK (Reuters) – Goldman Sachs Group Inc (GS.N) plans to buy a boutique wealth management custodian and technology company called Folio Financial Inc for an undisclosed amount of money, according to a letter that Folio sent to its customers on Thursday and was viewed by Reuters.

FILE PHOTO: The Goldman Sachs company logo is seen in the company’s space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid

Folio would be the second wealth management company Goldman has acquired in two years, following United Capital in 2019,

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