2002 Press Releases

Quick & Reilly, A FleetBoston Financial Company, Partners With FOLIOfn To Launch Q FOLIO Investing


NEW YORK, New York – Quick & Reilly and FOLIOfn today announced that they have as partners launched Q Folio Investing™, a specially tailored version of FOLIO Investing℠, to Quick & Reilly’s customers. Quick & Reilly is one of the nation’s leading brokerage firms and a FleetBoston Financial (NYSE: FBF) company. FOLIOfn is the financial services innovation company that, among other things, pioneered a new way to invest based on customized securities portfolios called “FOLIOs℠.”

Quick & Reilly customers who use Q Folio Investing™ can now buy, customize, and sell FOLIOs conveniently and securely online at www.quickandreilly.com. Customers can also invest in dollar or share amounts for greater ease and diversification, and they can take advantage of the tax benefits that come with stock ownership, including the ability to potentially lower their tax liabilities. These and other FOLIO Investing benefits are being offered alongside the full suite of benefits Quick & Reilly offers its investors, including access to a Personal Financial Consultant, advice on the right investment choices to meet investors’ goals, access to a nationwide network of investor centers, a priority support desk and the ability to invest in a full range of investment products including bonds, mutual funds, and options. Q Folio Investing™ can be integrated into Quick & Reilly’s Asset Management Account, giving investors access to ATMs, Visa debit card, and other quality services of FleetBoston Financial. Investors also have access to free real-time quotes, alerts, streaming quotes and S&P stock reports as an added benefit of Q Folio membership.

“This latest product innovation is evidence of Quick & Reilly’s commitment to offer the widest range of investment options, supported by the advice and guidance of a Personal Financial Consultant,” said Donald E. Froude, President and Chief Executive Officer of Quick & Reilly. “Q Folio Investing™ provides a number of tailored advantages, making it easier than ever for our customers to invest wisely and in ways that suit their individual financial objectives.”

“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. “The FOLIOfn partnership allowed us to get to market quickly with a proven brokerage platform that provides a service unsurpassed in the industry, and enables us to focus on our core competencies of providing value added service to our clients.”

“We’re thrilled to be working as partners with one of the nation’s largest and most well-respected brokerage firms,” said Steven Wallman, Founder and CEO of FOLIOfn. “For FOLIOfn, this partnership is an opportunity to have our unique and innovative service offered to hundreds of thousands of potential investors in combination with the strong brand and resources of a firm like Quick & Reilly. We are delighted that Quick & Reilly’s customers can benefit from FOLIO Investing’s ability to offer both diversification and control alongside their other Quick & Reilly accounts and services.”

In addition to other specially tailored services, Quick & Reilly customers are able to choose from a special selection of FOLIOs, based on a range of investment strategies. Customers can buy those FOLIOs “as is,” modify them before or after purchase, or build their own FOLIOs from scratch. Each FOLIO can hold up to 50 securities, including stocks, closed-end bond funds, Exchange-Traded Funds (ETFs), and Real Estate Investment Trusts (REITs).

Entire FOLIOs, or individual securities, can be bought or sold commission-free in window trades, which are trades that can be placed at any time and are executed twice per day, or in real time for an extra fee. Window trades make it easy and affordable for customers to add to diversified portfolios on a regular basis.

Quick & Reilly customers can benefit from other unique FOLIO Investing features as well. For example, when a customer decides to sell a stock, FOLIOfn’s tax management system automatically selects the shares that best meet that customer’s chosen tax planning objective. They may also use the system to manage tax paperwork. In addition, investors can take advantage of FOLIOfn’s stock selector and stock screening tools, including a “wizard” that helps investors find FOLIOs that meet their investing goals and a tool that can automatically exclude stocks based on social issues or reflect other investor preferences.

About Quick & Reilly

Quick & Reilly is a leading multi-channel brokerage firm, offering advice and guidance through more than 800 Personal Financial Consultants in its Investment Centers and investment products through 300 licensed investment specialists in Fleet Bank branches. Quick & Reilly is the broker of choice for over 1.8 million investors nationwide. The firm has grown to a leading position with a nationwide network of Investor Centers and one of the leading Internet securities trading systems, www.quickandreilly.com. Quick & Reilly, Inc. is part of FleetBoston Financial, a $200 billion diversified financial services company with an outstanding record of growth and profitability. FleetBoston Financial is headquartered in Boston and listed on the New York Stock Exchange (NYSE: FBF) and the Boston Stock Exchange (BSE: FBF).

About Folio Investing

Folio Investing, a division of FOLIOfn Investments, Inc., is an online brokerage that enables investors to manage stocks, ETFs, and mutual funds as integrated investment portfolios called “Folios” that deliver better control, greater transparency, and lower cost. Investors can create their own Folios, much like creating personalized ETFs or mutual funds, or invest in over 100 Ready-to-Go Folios representing market indices, sectors, geographical regions, target dates, and more. The Folio Unlimited Plan features unlimited commission-free trading in twice-daily windows for only $29 a month or $290 a year. Ready-to-Go Folios can be managed or unmanaged, are not registered investment companies, and are offered by FOLIOfn Investments, Inc., a registered broker-dealer. FOLIOfn Investments, Inc. does not provide investment, tax, or legal advice. FOLIOfn Investments, Inc., is a member of FINRA/SIPC.