Schwab Buying Motif Technology after Platform Shutdown

Motif, a robo-adviser platform recently announced that they were shutting down; now Charles Schwab is acquiring Motif’s technology and intellectual property in a cash transaction; this includes their algorithms, patents and source code; it is expected to close by the middle of 2020; Motif’s broker-dealer, RIA, client accounts as well as client assets are not part of the deal; the client accounts have been sold to Folio investments; Schwab is hiring a large portion of Motif’s development and investment talent including Motif founder Hardeep Walia. ThinkAdvisor

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