Interactive Brokers Group, the Greenwich-based stock brokerage and financial firm, has signed an agreement to acquire the self-directed retail brokerage operations of Folio Investments Inc. from Goldman Sachs.
The Wall Street giant had bought Folio Financial on Sept. 18 of this year.
Goldman Sachs is keeping certain services that had been operating as Folio Investments.
Interactive reports that it expects the acquisition of the retail brokerage business will add approximately 70,000 client accounts and $3 billion in client equity to its operations. As of the end of November, Interactive said it had approximately 1,037,000 client accounts with client equity of $268.7 billion.
Milan Galik, CEO of Interactive Brokers, said, “With the transition to our firm, Folio Investments”™ former clients now will be able to invest in stocks, options, futures, currencies, bonds and funds worldwide from a single, integrated account.”
Interactive reports that it and its affiliates execute more than 1,832,000 stock trades daily.
