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Goldman Sachs Goldman Sachs launched its robo-advisor, called Marcus Invest, to the public on Tuesday. It s launching into a crowded space, competing with startup and bank-owned robo-advisors. Sonali Divilek and Andrea Finan, executives overseeing the roll-out, laid out the product s plans. Goldman Sachs is finally launching its do-it-yourself wealth management offering to the public, marking a milestone in the elite firm s quest to appeal to Main Street. The bank rolled out Marcus Invest, its automated investment tool with a $1,000 account minimum, on Tuesday after having previously faced delays as a result of the pandemic. Marcus Invest is set to compete with startup robo-advisors and bank-run products like Bank of America s Merrill Guided Investing, and will charge an annual advisory fee of 0.35%, billed quarterly. Wealthfront and Betterment, the standalone robo-advisors that launched around a decade ago, both charge an an ....
Close icon Two crossed lines that form an X . It indicates a way to close an interaction, or dismiss a notification. Goldman Sachs will shutter its Clarity Money PFM app to instead concentrate on building up Marcus Insights. This could ultimately make for a stronger product and drive significant engagement. Insider Intelligence publishes hundreds of research reports, charts, and forecasts on the Banking industry with the Banking Briefing. You can learn more about subscribing here. The bank notified customers that it will discontinue Clarity Money, the personal finance management (PFM) app it acquired in 2018, on March 5, after folding in some of Clarity s most loved features to the Marcus app. ....