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.
“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.
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.
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.