Goldman Sachs is losing 2 consumer banking execs to Walmart. Here s a look at how the powerhouse Wall Street bank has been making a Main Street push. insider@insider.com (Business Insider)
Goldman Sachs CEO David Solomon is taking big steps to transform the bank.
Goldman has been pushing into consumer banking and wealth management.
Here s the latest news on Goldman Sachs.
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It s taken big steps involving transparency and inclusion to change up its culture. After its first-ever investor day in early 2020, the firm is looking to execute on targets including multi-year cost-cutting plans. And it s making big pushes into businesses like wealth management and consumer banking.
Goldman’s Robo Will Be Retrofitted for Its Advisors Goldman is currently working on a version of Marcus Invest that takes an advisor relationship into account, said Joe Duran, head of Goldman Sachs Personal Financial Management.
Goldman Sachs launched its new automated investment advice platform, Marcus Invest, this week, for clients with as little as $1,000. But the firm is working on a version for its in-house advisors, said Joe Duran, head of Goldman Sachs Personal Financial Management.
Of course, the unit’s 400 advisors can refer clients to Marcus Invest today, but they don’t get the personalization and human touch within the robo application. And the advisor currently doesn’t have visibility into the platform.
Walmart, Goldman Sachs, Amazon com: Stocks That Defined the Week morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
The automated investing tool is part of Goldman Sachs's effort both to be a full-service digital bank and to help retail partners like Apple and Walmart offer financial products, according to Stephanie Cohen, global co-head of consumer and wealth management.