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Goldman Sachs adds investing feature to Marcus

Goldman Sachs adds investing feature to Marcus

Goldman Sachs has added an automated investing feature to Marcus, its online retail banking service.

Marcus Invest recommends a portfolio of stock and bond ETFs based on the customer's risk level and timeline. Users can open an account with as little as $1000.

The bank handles the day-to-day management of the money, monitoring the portfolio daily and automatically rebalancing the account to keep it aligned with the customer's goal.

Unlike Robinhood, users can not trade individual stocks but Goldman executive Stephanie Cohen tells the Wall Street Journal that this may change in the future, adding "we like trading at Goldman Sachs".

The Marcus app already provides a savings account, personal loans and money management tools, with a current account set to arrive later this year.

Comments: (1)

A Finextra member
A Finextra member 17 February, 2021, 10:59Be the first to give this comment the thumbs up 0 likes

Any chance of rolling out the App in the UK?