Goldman Sachs Group Inc plans to buy the boutique wealth management custodian and technology firm Folio Financial Inc, according to a letter Folio sent to customers on Thursday that was viewed by Reuters.
This would be the second wealth management firm Goldman has acquired in two years, after the 2019 acquisition of United Capital.
A Goldman Sachs spokesman confirmed plans for the acquisition and the contents of the letter, but declined to comment on the price of the deal.
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