Depending on applicable regulations or business limitations, specific API requests may not be available for your use.

Create a Corporate Firm

This request creates a corporate firm, to which you will associate a new member as the firm rep, and then associate one of the following types of corporate accounts: Business Trust (Irrevocable Trust), Corporation, LLC, Limited Partnership, General Partnership, Unincorporated Organization, Investment Club, and Sole Proprietorship.

Corporate account creation flow:

  1. Create Member
  2. Create Firm
  3. Create Trustee(s)
  4. Create Corporate Account

Notes:

  • Unlike Folio corporate firms noted above, Folio Institutional firms (those setup for RIA or introducing broker-dealer firms) cannot be created using the API, only by Folio Institutional staff.
  • You must provide the firm's actual email address. Email addresses created or provided by the Folio Institutional firm are not permitted. Folio cannot accept any client email address or phone number with the same domain name or phone number that is associated with your Folio Institutional Firm, unless that account is owned by your Firm. Further, you must establish processes to ensure that all client profile information, including but not limited to physical mailing address(es), email address, phone number(s), and other personal data, is accurate and complete, and that you update the Folio system with all client profile changes when they are received by your Firm.

Request URL

Syntax POST /restapi/firms
Example URL https://api.uat.foliofn.com/restapi/firms

Response Data Fields

Field Required? Description
firmTaxId Yes

Tax identification number (TIN) of the entity.

The length must be 9 digits. See Social Security Number Rules. This field cannot be changed once set without special manual processing at Folio based upon user provided document review.

firmTaxIdType Yes “TIN” and “SSN” are the only acceptable values.
firmName Yes Name of the entity. Maximum of 50 characters. Valid characters are letters, digits, spaces and the following special characters: ~`!@#$%^&*()_-+=[{]}|:',./?
firmTelephone1 Yes

The firm’s primary phone number. The length should be between 10 and 14 digits.

User Text:

Enter numbers only. For extensions, add the extension number to the end (ex. 70324540001234).
firmTelephone2 No

The firm’s secondary phone number. The length should be between 10 and 14 digits.

User Text:

Enter numbers only. For extensions, add the extension number to the end (ex. 70324540001234).
firmEmail1 Yes

The primary email address of the firm. This field must be a well-formed email address (i.e. example@example.com). We ask that you have the user enter this field twice and ensure that both entries match.

User text:

A valid email address is required.
firmEmail2 No

The secondary email address of the firm. If supplied, this field must be well-formed email address. (i.e. example@example.com)

A binary indicator of whether the member is employed by or associated with a FINRA-registered company. “true” or “false”.

finraAffiliated Yes

A binary indicator of whether the member is employed by or associated with a FINRA-registered company. “true” or “false”.

User Text:

Are you, your spouse, or any other immediate family members, including parents, in-laws, and siblings that are dependents, employed by or associated with the securities industry (for example, investment advisor, sole proprietor, partner, officer, director, branch manager or broker at a broker-dealer firm or municipal securities dealer) or a financial regulatory agency, such as FINRA or the New York Stock Exchange? If yes, and if this entity requires that you obtain its approval for you to open this account, please select Yes below:

Additional text for use if “true”:

FINRA Affiliation
You have indicated a FINRA affiliation that requires us to restrict your account until the employer of the FINRA affiliated person approves.

Please download, complete, and send us the Compliance Officer Form to unrestrict the account.

directorOrTenPercentShareholder Yes

A binary indicator of whether member is a director or 10% shareholder at a publicly-traded company. “true” or “false”.

User text:

Are you or someone in your household or immediate family a 10% shareholder, policymaking officer or member of the board of directors of a publicly traded company?

Additional text for use if “true”:

Enter trading symbols:
directorOrTenPercentShareholderCompany Yes if directorOrTenPercentShareholder is “true”.

A comma separated string of exchange listed publicly traded security tickers. Letters, digits, and dot are allowed (e.g., GOOG.C).

Tickers specified here will be added to the security level exclusions for accounts of the member.

primaryAddress Yes

The primary address of the member. This must be a U.S. street address, no P.O. Boxes or non-U.S. addresses accepted. See Address Fields for the format of each address field. Use the name “Primary Address” on client applications.

User Text:

(U.S. street addresses only; no P.O. Boxes)
mailingAddress No

The mailing address of the member. See Address Fields. Use the name “Mailing Address” on client applications.

User Text:

(P.O. Boxes allowed)
firmProfileItems No No firm profile items may be set at this time.
firmRep Yes The username of the member who is already created on the platform and is going to be assigned as the firm representative. Additionally, before the member is assigned, he or she cannot be an owner or joint owner of any account, and cannot be a trustee of any corporate account and cannot be already assigned to any other firm on the platform.
accredAllAccredInvestors No A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

Please answer the following questions to determine the Accredited Investor status for the entity that owns this account:

Any entity in which all of the equity owners are accredited investors?

accred5MAssetsTrust No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

Any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described in 230.506(b)(2)(ii)?

accredBusinessDevelopmentCompany No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

Any private business development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940?

accred5MAssetsOrganization No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

Any organization described in section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000?

accred5MAssetsPlanAndEtc No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

Any bank as defined in section 3(a)(2) of the Act, or any savings and loan association or other institution as defined in section 3(a)(5)(A) of the Act whether acting in its individual or fiduciary capacity; any broker or dealer registered pursuant to section 15 of the Securities Exchange Act of 1934; any insurance company as defined in section 2(a)(13) of the Act; any investment company registered under the Investment Company Act of 1940 or a business development company as defined in section 2(a)(48) of that Act; any Small Business Investment Company licensed by the U.S. Small Business Administration under section 301(c) or (d) of the Small Business Investment Act of 1958; any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; any employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment decision is made by a plan fiduciary, as defined in section 3(21) of such act, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons that are accredited investors?

qibInsuranceCompany No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

Please answer the following questions to determine Qualified Institutional Buyer (QIB) status for this account:

Does the entity that owns this account own and invest, on a discretionary basis, at least $100 million in securities of issuers that are not affiliated with the entity and is the entity:

An insurance company?

qibInvestmentCompany No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

An investment company registered under the Investment Company Act of 1940?

qibSmallBusinessInvestmentCompany No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

A Small Business Investment Company under the Small Business Investment Act of 1958?

qibEmployeeBenefitPlan No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

An employee benefit plan established by a state, its political subdivisions, state agency, or falling under the Employee Retirement Income Security Act (ERISA) of 1974?

qibTrustFund No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

A trust fund whose trustee is a bank or trust company, and whose participants are exclusively plans established for the benefit of state employees or employee benefit plans, except those trust*s* that include IRAs or F.R. 10 plans as participants?

qibBusinessDevelopmentCompany No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

A business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940?

qib501c3CharitableOrganization No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

A 501(c)(3) charitable organization, corporation (other than a bank or savings and loan association), partnership or Massachusetts or similar business trust?

qibInvestmentAdviser No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

An investment adviser registered under the Investment Advisers Act of 1940?

qibRegisteredDealer10M No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

If you answered Yes to one of the QIB questions above, select Continue below.

If none of the QIB questions above apply, please answer the following questions about the entity that owns this account:

A registered dealer acting for its own account of the accounts of other QIBs that in aggregate owns and invests, on a discretionary basis, at least $10 million in securities of issuers not affiliated with the dealer?

qibRegisteredDealerRiskless No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

A registered dealer acting in a riskless principal transaction on behalf of a QIB?

qibInvestmentCompany100M No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

An investment company registering under the Investment Company Act of 1940 acting for its own account or for the accounts of other QIBs, and that is part of a family of investment companies which own in the aggregate at least $100 million in securities of issuers not affiliated with the investment company or the family of companies?

qibEntity No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

Any entity, all equity owners of which are QIBs, acting for its own account or the account of other QIBs?

qibBank No

A binary (“true” or “false”) indicator of whether the entity is accredited for private placements based on the User text question:

Any bank or savings and loan association, or like institution, acting for its own account or the accounts of other QIBs, that in the aggregate owns and invests, on a discretionary basis, at least $100 million in securities of issuers not affiliated with it, and has an audited net worth of at least $25 million in its latest annual financial statements as of a date not more than 16 months preceding the date of sale under Rule 144A?

Request Example


POST /restapi/firms HTTP/1.1

{
  "accred5MAssetsOrganization" : true,
  "accred5MAssetsPlanAndEtc" : true,
  "firmTaxId" : "123123412",
  "firmTaxIdType" : "TIN",
  "firmName" : "Firm Name",
  "firmTelephone1" : "2027070404",
  "firmEmail1" : "firm@email.com",
  "finraAffiliation" : false,
  "directorOrTenPercentShareholder " : false,
  "streetAddress" : {
    "line1" : "street address 1",
    "city" : "city",
    "state" : "VA",
    "zipcode" : "12345",
    "country" : "US"
  },
  "firmRep" : "firmRepId"
  "qib501c3CharitableOrganization" : true,
  "qibTrustFund" : true;,
}

Response Example


HTTP/1.1 201 Created
X-Powered-By: Servlet/2.5
Server: Sun GlassFish Enterprise Server v2.1.1
Location: https://api.uat.foliofn.com/restapi/firms/THISISFIRMID
Link: <https://api.uat.foliofn.com/restapi/firms/THISISFIRMID>; rel="GET"; type="application/json"; title="getFirm", <https://api.uat.foliofn.com/restapi/firms/THISISFIRMID>; rel="PUT"; type="application/json"; title="updateFirm"
Content-Type: text/html; charset=iso-8859-1
Content-Length: 0
Date: Wed, 19 Feb 2014 19:18:58 GMT


Change Log

09/02/2016

  1. Updated Notes Section

04/29/2016

  1. Added Change Log
  2. Removed finraCompany field

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