After ten years in the investment space, online brokerage platform Motif will be shutting down operations on May 20. The company notified users via email on April 17 in a message saying, “At this time, we’ve made the decision to cease operations and transfer your account to Folio Investments.”
Moreover, did Schwab buy motif?
Late last month, thematic brokerage platform Motif Investing informed users it was shuttering, but now Schwab is giving it new life, announcing this week it was acquiring the “pioneering” platform’s technology and intellectual property, including algorithms, patents and source code in an all-cash transaction.
Besides, what is a thematic portfolio?
Thematic investing involves creating a portfolio (or portion of a portfolio) by gathering together a collection of companies involved in certain areas that you predict will generate above-market returns over the long term. Themes can be based on a concept such as ageing populations or a sub-sector such as robotics.
Who took over motif?
Motif Investing Customers Sold to Folio Investing
Folio Investing is a lower-tier option for individual investors that offers folios, which are similar to motifs. The platform pre-dated FolioFirst, which was built for former LOYAL3 customers and comes with a $5 per month fee.
Why did motif shut down?
Last week Walia announced that Motif was shutting down and all customer accounts were being transferred to Folio Institutional. The conventional wisdom is that they were a victim of the economic crisis brought on by the coronavirus global pandemic.