As for the future of Motif’s founder, “Hardeep [Walia]’s such a smart, creative thinker. Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions. She's also lived and worked in Asia, Europe and Latin America, raised two sons, and won a Neal Award for top news coverage in 2020. This page includes instructions on how to select between subscription offers from Folio.Like us, Folio is a member of FINRA and SIPC.You will be learning more about Folio’s investment offerings very soon. The same risks that apply to your margin account at Motif will be applicable to your margin account at Folio. You will be able to access account statements and trade confirms online through Folio’s website. an individual account, an IRA and a joint account will be charged only one monthly fee). “Stay tuned for his next launch,” Rudin added. Say It Ain't So! A bummer for them, their clients and the fintech community in general. If you have any questions about this transfer, please feel free to call Motif Customer Service at 1-855-586-6843 9 AM to 6 PM Eastern Time, Monday - Friday.Sincerely,Hardeep WaliaCEOFrequently Asked QuestionsQ: What are the terms and conditions I am agreeing to if I participate in the conversion?A: You can view the Folio Customer Agreement online, and details of the Folio Investing Unlimited pricing plan below and online.Q: Can I keep my account at Motif?A: No. Get the latest best practices, relevant stats and industry trends - quickly and easily. We’ve selected Folio to give you access to leading investment tools in a similar experience to what you’ve enjoyed at Motif.Your account transfer will start after market close on Wednesday, May 20, 2020, and your new Folio Investing account will be ready for you to use on Thursday, May 21, 2020. I have no business relationship with any company whose stock is mentioned in this article. At the time of conversion, Kingdom will then amend your account with the applicable IRA Custodial Agreement, which is appended to the Folio Customer Agreement. Its technology will live on, however, because Charles Schwab is … 17) by firm co-founder and CEO, Hardeep … Its ETF models, launched with Goldman Sachs, had about $264 million in assets. The portfolio management software company founded in 2012, which enabled retail investors and financial advisors to invest in thematic portfolios … “This is the tip of the ‘tip of the iceberg’; I estimate that we’ll lose 20% of the firms in [Michael] Kitces’, What makes more closures of, specifically, low-cost. Motif, a brokerage platform focused on thematic investing, is closing up shop, according to published reports. Their team is excited to welcome you, and ready to provide you with the level of service that you deserve on your journey toward achieving your financial goals. If you have a margin account at Motif, it will be opened as a margin account at Folio as long as you meet certain requirements (e.g., it is not an IRA account). That idea was to give individual … But the online broker likely won’t be the only fintech firm to fail as the economy weakens and the markets bounce around, technology consultants say. We're delighted you're here. You can also learn more at www.folioinvesting.com.CASH SWEEP and MARGIN NOTICE: At Motif Investing, your cash is held as a free credit balance that pays no interest. When you login for the first time, you will be asked to agree to the Folio Customer Agreement, confirm your personal information, and set your own password.OPT-OUT NOTICE: If you do not wish for your account(S) to be transferred to Folio, you must either transfer your account to another broker-dealer before May 12, 2020, or tell us to sell all of your securities and send your cash to your linked bank account after settlement. At Folio, cash balances are held in Folio’s Insured Bank Deposit and Free Credit Sweep Program which pays interest as described in the Folio Customer Agreement and the Folio Investing site. You will be able to access tax records for activity in your Folio account online through Folio’s website. Motif Investing, Inc. operates as an online broker. Welcome to Folio Investing! No one likes to see an established firm like Motif close down. Clients can access their Motif accounts through May 20; the accounts will move to Folio Investing the next day. But since Motif was founded in 2012, the field of companies helping self-directed investors has changed dramatically. Exclusive discounts on ALM and ThinkAdvisor events. We appreciate the opportunity we’ve had to work with you, and we are confident that your investment needs will be well-served by Folio. At this time, we’ve made the decision to cease operations and transfer your account to Folio Investing. The need for healthy revenues and capital reserves to weather a storm like today’s, according to Fritz. Furthermore, its sophisticated tracking of individually created funds (motifs), allowed me to display results of my investing progress and decisions. Unfortunately moving forward, I do not know if the custom created motifs within Motif's platform will be 'active' in Folio Investing, or if all of the assets that are transferred will display as individual securities. Aug 14, 2020. If do not take such action before May 12, 2020, your account will be transferred to Folio. “Scale means everything now, so you have to be big to make a go of it.”, There’s also the “problem” of raising too much capital, according to Welsh: “Eventually, it does run out as you operate in the red for years and years.”. Poll: 15 Classic Books on Investing and the Markets . You are invited to explore their website, folioinvesting.com, to learn more about why they are a preferred brokerage firm for those investors seeking a smarter way to invest. … There were just too many obstacles for them to overcome.”. Janet Levaux, MA/MBA, is Editor in Chief of ThinkAdvisor & Investment Advisor. Fifteen Must-Listen Business Podcasts for Advisors . There is nothing wrong with this, of course, but the auto-reinvest program seemed to be unique to Motif Investing. Investors can also customize their motif … )PRIVACY NOTICE: Your privacy and the confidentiality of your information are important and protected by law. MOTIF Investing, one of the earliest innovators in the digital investing space in the US, is shutting down. After your account has transferred to Folio Investing, you will be able to login to your new account at Folio and setup your beneficiary designations on their site. Gundlach: Stocks Headed for Trouble; Fed Could Bend Yield Curve, Ric Edelman Warns of Long-Term Pandemic Impact, How Investors Can Evaluate Muni Bonds in the COVID-19 Economy, Trader Made False COVID-19 Blood Test Claims in Pump-and-Dump Scheme: SEC. I won’t be surprised to see what his next great iteration is,” said April Rudin, president of The Rudin Group, a global marketing firm. Once your Motif accounts are transferred over, you can reconstruct your portfolio view using Folio Investing tools. 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