Finance
Goldman Ditches Robo-Investing for Masses in Sale to Betterment
- Betterment will acquire clients, assets tied to Marcus Invest
- Goldman still seeking to expand Marcus savings-account product
Goldman Sachs Group Inc. is closing down its automated-investing business for the masses after clinching a deal with Betterment.
The bank has struck an agreement to transfer clients and their assets from the unit known as Marcus Invest to Betterment, a $45 billion digital investment-advisory firm. The transfer is expected to be completed by the end of this quarter.