‘Our research shows that consumers find investing to be intimidating’: Marcus by Goldman Sachs debuts automated investment service
- Goldman Sachs debuted its flagship digital investment platform Marcus Invest.
- The offering requires a minimum account balance of $1000 and charges an annual fee of 0.35 percent.
Goldman Sachs’ consumer banking unit Marcus launched its digital investment offering this week. Marcus Invest offers consumers automated management of their stock and bond ETF portfolios based on users’ risk tolerance and investment timelines. It also offers individual and joint investment accounts as well as three types of individual retirement accounts.
The robo-adviser connects consumers with the investing resources of Goldman Sachs through portfolio models designed by the company’s Investment Strategy Group at a minimum account balance of $1000. It charges an annual advisory fee of 0.35 percent for trade commissions, transfer fees, daily monitoring, rebalancing and management.
“We are excited to deliver our investment acumen and advice to a wider audience. Our research shows that many consumers find investing to be intimidating or don’t have the time to spend on it,” said Andrea Finan, head of digital investing at Goldman Sachs.
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