MENU

Important Disclosures

Investing In Folios

There are risks involved in investing in any security or group of securities. Past returns are no guarantee of future returns. Read Risks of Investing for more information.

Folios can be managed or unmanaged and are not registered investment companies. Folios may contain K1 securities, such as limited partnership interests, or ADRs either directly or through ETFs or mutual funds that invest in them. Please read prospectuses carefully before investing in ETFs or mutual funds.

Folio Investments, Inc. doing business as Goldman Sachs Custody Solutions (GSCS), does not make any determination that any investment or strategy is suitable or appropriate based on your or any investor’s particular investment objectives or financial situation. Regardless of whether provided by a third party or by GSCS, GSCS does not review, recommend, determine the suitability of, or provide advice regarding any investment or strategy for your use. If you follow any investment or strategy (including a published folio) you must determine for yourself whether the investment or strategy is suitable for you. By using this website you agree to these terms and the terms below.

Services and Products of Unaffiliated Organizations

Folio Investments, Inc., doing business as Goldman Sachs Custody Solutions (GSCS), through its online brokerage platform, provides brokerage services that, among other things, enable organizations, such as investment advisors, and their members and/or customers to follow the trading strategies, research, and/or investment ideas developed by these organizations. Such organizations may be licensed or unlicensed, professional or amateur and are unaffiliated with GSCS. They are solely responsible for their own services, products, and content regardless of whether such services, products, or content is provided in materials of or hosted on such organizations’ web sites, or any web sites hosted by GSCS or co-branded with GSCS. GSCS reviews information published on GSCS web sites. GSCS neither reviews nor approves information or advertising material not involving GSCS and published on a site other than GSCS websites. Such information and advertising material are the sole responsibility of the organization even where GSCS hosts the web site. Use by an organization of the GSCS website or brokerage platform does not imply or constitute GSCS’s recommendation, endorsement, approval, or oversight of such organization or its offerings, products, services, or publications or any investment suggested or implied by or from such organization, even if GSCS provides services to such organization (such as creating or consulting on security screens, filters, folio construction, or otherwise).

GSCS may pay such organizations referral fees, per subscriber fees, content fees, or other fees, or such organizations may pay GSCS for use of the GSCS platform or for services GSCS provides to them. Notwithstanding the payment of such fees, GSCS and the organization remain independent contractors and neither is an agent, representative, or partner of the other. Neither has any right, power, or authority to enter into any agreement for or on behalf of, to incur any obligation or liability for, or to otherwise bind the other. The payment of fees does not constitute or create an association, joint venture, co-ownership, co-authorship, or partnership or impose any partnership obligation or liability upon either.

Site Availability

Learn more about our site availability.

Cash Management Options

Cash deposited in our FDIC Insured Bank Deposit Program (Program) receives FDIC Insurance coverage. Cash can be allocated within any folio using the ticker symbol FDIC.CASH. Separately, non-folio cash deposits over $25,000 may be eligible for higher interest rates through the FDIC.PLUS product. Cash balances held in your accounts but not invested in FDIC.CASH or FDIC.PLUS are aggregated into and pay interest through the Cash Sweep Program. Subject to certain limits, the FDIC covers both the principal and accrued interest deposited in banks through the Program. If you would like more information about FDIC insurance, please visit www.fdic.gov or call the FDIC Consumer Hotline at 1-877-ASK-FDIC (1-877-275-3342). SIPC insurance does not apply to any cash amounts deposited through the Program.

Learn more about cash management

Inverse and Leveraged ETFs

Disclosure

The Securities and Exchange Commission (SEC) and FINRA, the organizations which regulate the securities industry, issued an Investor Alert on June 31, 2009 advising retail investors of the risks associated with “leveraged and inverse ETFs”. Specifically, they warn that these instruments tend to deviate from—and may underperform relative to—their benchmarks for periods longer than one trading day by design. These deviations may be substantial for longer periods. The SEC similarly issued an updated investor bulletin regarding leveraged and inverse ETFs on February 23, 2023.

What are inverse and leveraged ETFs?

Leveraged ETFs are securities that attempt to replicate multiples of the performance of an underlying financial index. Inverse ETFs are designed to replicate the opposite direction of these same indices, often at a multiple. These ETFs often use a combination of futures, swaps, short sales, and other derivatives to achieve these objectives.

Why don’t they track their indices well over longer periods of time?

Most leveraged and inverse ETFs are designed to achieve these results on a daily basis only. This means that over periods longer than a trading day, the value of these ETFs can and usually do deviate from the performance of the index they are designed to track. Over longer periods of time or in situations of high volatility, these deviations can be substantial.

What you should know

Customers should carefully evaluate leveraged and inverse ETFs by looking closely at their prospectuses and considering their own financial goals and risk tolerance before trading these securities. Buy-and-hold investors should be particularly cautious when evaluating these investments, because they may not track their underlying indices over longer periods of time and may have additional risks inherent to the nature of their underlying assets. Even experienced retail investors should reflect carefully before retaining these securities longer than one trading day.

Alternative Investment Products

IMPORTANT: With respect to any non-publicly-traded alternative investment positions, including REIT's, held in your account, the estimated value is shown as provided by the issuer, sponsor or other unaffiliated third party, and may have been determined using the net investment method for valuation. Any distribution that represents a return of capital reduces the estimated per-unit value shown. The classification of distributions as income or return of capital in whole or in part, is subject to final accounting by such party(ies) and will be reported on a Form 1099 or K-1, as applicable. Activity in an alternative investment security will not be reflected as a "confirmed transaction" in your account until it has been confirmed by the Asset Manager and/or their agents.

Order Routing and Execution

Learn more about our order routing and execution practices.

Folio Investments, Inc., doing business as Goldman Sachs Custody Solutions, does not offer All-Or-None (“AON”) limit, day term orders. As a result, your order may be partially filled if you place a limit, day order for securities.

Good-Until-Canceled (“GTC”) limit orders are handled as AON orders. Even if your price target is met, there is a chance that your GTC order will not be filled, since all unrestricted orders at that price must be filled first.

Statement of Financial Condition

Under the Securities and Exchange Act of 1934, Folio Investments, Inc. doing business as Goldman Sachs Custody Solutions is required to publish its audited statement of financial condition on an annual basis and its unaudited mid-year statement of financial condition. To read the latest copy of doing business as Goldman Sachs Custody Solutions’ Statement of Financial Condition, click the corresponding link:

06/30/2023 Unaudited Statement of Financial Condition
12/31/2022 Audited Statement of Financial Condition
06/30/2022 Unaudited Statement of Financial Condition
12/31/2021 Audited Statement of Financial Condition

Business Continuity Plan

Learn more about our business continuity plan.

Privacy

Learn more about our privacy policy.

Protection and Security

Folio Investments, Inc., doing business as Goldman Sachs Custody Solutions, protects your assets with proven technology, processes, and insurance. Learn more

Copyrights, Trademarks and Patents

©2024 by Folio Financial, Inc., doing business as Goldman Sachs CS Holdings, Folio Investing, FOLIO Advisor, Folio Institutional, and Folio Client are registered trademarks of Folio Financial, Inc. All Rights Reserved. Brokerage services are provided by Folio Investments, Inc., doing business as Goldman Sachs Custody Solutions, whose products and services are covered under the U.S. Patents listed below as well as other related patent applications.

Patent Number Description
9,978,103 Method and apparatus for portfolio trading using margin
8,275,690 Method and apparatus for enabling smaller investors or others to create and manage a portfolio of securities or other assets or liabilities on a cost effective basis
8,099,344 Method and apparatus for enabling individual or smaller investors or others to create and manage a portfolio of securities or other assets or liabilities on a cost effective basis
8,086,514 Method and apparatus for rebalancing an investment portfolio using a portfolio investment system
8,078,490 Method and apparatus for corporate voting
7,844,538 Method and apparatus for trading securities or other instruments
7,685,046 Method and apparatus for enabling individual or smaller investors or others to create and manage a portfolio of securities or other assets or liabilities on a cost effective basis
7,640,182 Method and apparatus for corporate voting
7,552,082 Method and apparatus for enabling individual or smaller investors or others to create and manage a portfolio of securities or other assets or liabilities on a cost effective basis
7,546,267 Method and apparatus for enabling individual or smaller investors or others to create and manage a portfolio of securities or other assets or liabilities on a cost effective basis
7,117,176 Method and apparatus for enabling individual or smaller investors or others to create and manage a portfolio of securities or other assets or liabilities on a cost effective basis
7,110,971 Method and apparatus for enabling individual or smaller investors or others to create and manage a portfolio of securities or other assets or liabilities on a cost effective basis
7,047,218 Method and apparatus for trading securities or other instruments on behalf of customers
6,996,539 Method and apparatus for enabling smaller investors or others to create and manage a portfolio of securities or other assets or liabilities on a cost effective basis
6,801,199 Method and apparatus for interacting with investors to create investment portfolios
6,601,044 Method and apparatus for enabling individual or smaller investors or others to create and manage a portfolio of securities or other assets or liabilities on a cost effective basis
6,516,303 Method, system, and apparatus for managing taxable events within a portfolio
6,360,210 Method and system for enabling smaller investors to manage risk in a self-managed portfolio of assets/liabilities
6,338,047 Method and system for investing in a group of investments that are selected based on the aggregated, individual preference of plural investors
6,161,098 Method and apparatus for enabling small investors with a portfolio of securities to manage taxable events within the portfolio

Financial Market Data Sources

Financial Market Data powered by Quotemedia.com and Xignite. All rights reserved. View the Quotemedia Terms of Use. The NYSE/AMEX and NASDAQ data we display is delayed 15 minutes, unless otherwise indicated. The Dow Jones Average℠ is compiled, calculated, and distributed by Dow Jones & Company, Inc., and has been licensed for use. All content of The Dow Jones Averages℠ ©2020 Dow Jones & Company, Inc. All Rights Reserved. Folio Financial, Inc., doing business as Goldman Sachs CS Holdings, its affiliates, and its data and content providers are not liable for any errors or delays in quotes and other content or for any actions you take in reliance on this data or information. By using this data you are agreeing to the S&P Dow Jones Indices, LLC Terms of Use and the Pink OTC Markets Terms of Use, where applicable.