Folio Investing

Founded in 1999 by former SEC Commissioner Steven M. H. Wallman, Folio Investing (and its parent, Folio Financial) aimed to democratize investing by making it more accessible and affordable. Its key innovation was the "Folio," a basket of up to 100 stocks, ETFs, or mutual funds that could be traded for a flat fee. The platform was one of the first to extensively offer fractional share trading, allowing investors to invest with small amounts of capital. In May 2020, Goldman Sachs announced its acquisition of Folio Financial, Inc. to expand its wealth management capabilities. The acquisition was completed, and by January 2021, all Folio Investing client accounts were fully transitioned to the Goldman Sachs platform, leading to the closure of the Folio Investing service.