Press Release

Interactive Brokers Acquiring Folio Investments Retail Brokerage Business from Goldman Sachs


GREENWICH, CT, December 4, 2020 - Interactive Brokers Group (Nasdaq: IBKR), a global brokerage firm, today announced it has signed an agreement with Folio Investments Inc. to acquire its self-directed retail brokerage segment. The deal follows Goldman Sachs' (NYSE: GS) purchase of Folio Financial on September 18, 2020. Goldman will retain the clearing and custody services Folio Investments created for investment advisors. Terms of the Interactive Brokers' account purchase, which is expected to close in January 2021, were not disclosed.

Interactive Brokers looks forward to welcoming the approximately 70,000 current Folio Investments' self-directed customers to Interactive Brokers. As of November 30, 2020, Interactive Brokers had 1.037 million client accounts, 52% higher than the prior year. Client equity climbed to $268.7 billion, a 61% increase from the prior year. The acquisition is expected to add approximately $3 billion in client equity. It will also provide Folio Investments' clients with many new benefits.

"Interactive Brokers has long been recognized for its advanced technology, superior pricing, and breadth of product," said Interactive Brokers CEO Milan Galik. "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."

Folio's retail clients only had access to US-listed stocks and commission-free trading at scheduled times. With the transition to Interactive Brokers, Folio Investments individual clients can select from the IBKR Lite service plan, which offers unlimited commission-free trades on US exchange-listed stocks and ETFs and low commissions on other asset classes, or the IBKR Pro plan designed for more sophisticated investors and active traders. At Interactive Brokers, they will gain access to the industry's lowest margin loan interest rates and income enhancers, such as the ability to earn extra income lending out fully paid shares.

About Interactive Brokers Group, Inc.:

Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 135 markets in numerous countries and currencies, from a single IBKR Integrated Investment Account to clients worldwide. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Barron's ranked Interactive Brokers #1 with 5 out of 5 stars in its February 24, 2020, Best Online Broker Review.

About the Goldman Sachs Group, Inc.:

The Goldman Sachs Group is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments, and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

For Interactive Brokers Group, Inc.
media@ibkr.com.



Interactive Brokers Canada Inc. is a member of the Canadian Investment Regulatory Organization (CIRO) and Member - Canadian Investor Protection Fund. Know Your Advisor: View the CIRO AdvisorReport. Trading of securities and derivatives may involve a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines. Interactive Brokers Canada Inc. is an order execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives. Our registered office is located at 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada.


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