certainly don't gain the recognition that they did just a year ago, but they may not get a tad more distribution. The Virginia-based startup has landed its first major distribution deal of the year. Quick & Reilly
, the brokerage arm of FleetBoston Financial, will offer Folios to its customers.
The new product will be called "Q Folio Investing." The product is a specially tailored form of Folios, according to the two firms.
"Our customers are getting a unique version of FOLIO Investing that is personalized and integrated with their existing Quick & Reilly accounts," said Mike Quinn
, senior vice president in charge of Internet Strategy and Management at Quick & Reilly, in a statement.
Folios, a form of stock basket, have been slower to catch on with investors than many in the fund industry once feared. Last year, both Fidelity and Charles Schwab created their own proprietary versions of the product to combat the perceived threat. Neither firm has been actively promoting the products, however.
The fund industry has also been pushing for the products to be regulated as funds. Currently they are regulated as securities but do not fall under the Investment Company Act of 1940.
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