Oisín Breen

This is a platform of last resort for many of the RIA's on it - cannot see them passing the credit committee at Goldman....Goldman overpaid by $200MM

Goldman is playing a new game that I need to understand. Hope it is greater than custody as IP and the Goldman brand should Trump the price sensitive crowded custody field.

To me this is evidence that the value of the rails on which investment advice is rendered, are collapsing.  If one is an entrepreneur providing  services that include custodial, or even services to advisors, the writing is on the wall.   The value of what you have been creating is declining.

The key going forward is to create new, more compelling offerings to the end user...not intermediaries.

Goldman Sachs buys Folio to gain an RIA-custody toehold, and gets robo-advisors in the bargain, days after Schwab buys Motif

Goldman Sachs

Folio Institutional

Motif

The New York powerhouse is uncertain about taking on Schwab and Fidelity in RIA custody, but it keeps making inroads where it can in retail wealth

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