Goldman Sachs’ investment advice is no longer just for the super rich
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Goldman Sachs’ investment advice is no longer just for the super rich

The prestigious investment bank, known primarily for advising the affluent on how to manage its money and helping engineer big deals on Wall Street, announced a new robo-advisor on Tuesday for the average investor. Unveiled.

Marcus investment, An officer of the company’s Marcus retail banking arm, will give $ 1,000 to Goldman Sachs customers along with purchasing exchange-traded funds.
Goldman Sachs ()GS) Specific shares will not be recommended, however, Robinhood, Weibull and other online brokerages have also become popular locations for traders to place bets on so-called “meme” stocks such as retailers GameStop ()GME) And movie theater series AMC ()AMC).

“You will have a range of industries and economies, so that you will have many growth opportunities and not be tied to the fate of a single share,” Marcus Invest said on its website.

In that regard, Marcus Invest is more focused on passive investors planning retirement than other long-term goals Traders active in Reddit WallStreetBets board By betting on individual stocks or trying to make a quick buck Cryptocurrency Such as Bitcoin ()Xbt).
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Marcus Investment also said it would monitor departments daily and automatically track imbalance accounts to maintain them with long-term goals.

Goldman Sachs is placing a big bet on Marcus to diversify and reach new customers. The asset management and investment advisory business is increasingly targeting younger clients who want to take more responsibility for their own finances.

Other brand name financial firms are also working on services such as Robinhood and Weibull, which have helped popularize zero commission trading accounts.

Charles Schwab ()SCHW) Now owns TD Amritrade Morgan Stanley ()M / s) Has acquired e-business. Mutual fund giant Fidelity also has an online brokerage.
Marcus Investment is just beginning Goldman Sachs latest move To forward the unit.
They say Fidelity did not let them sell during the Reddit catastrophe, which cost them $ 830,000.

Goldman Sachs announced last month that it was partnering with card-issuing company Marketta, which holds an investment bank stake, which would begin offering digital checking accounts to Marcus customers later this year.

Goldman Sachs also said in January that it was cooperating Master card ()MA) to issue General Motors ()GM)-Branded Credit Card. Bank is already partnering Apple ()AAPL) on the iPhone manufacturer’s Apple card.

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2 COMMENTS

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