Goldman Sachs, an American multinational investment bank and financial services company headquartered in New York City, has begun internal testing of digital wealth management services for main street investors.
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The service is called Marcus Invest and it’s expected to roll out early in 2021. Marcus Invest is currently undergoing trials with staff. Employees, who sign on to the digital service, will pay an annual management fee of 0.15%, according to a company memo, seen by CNBC
According to sources, the company is looking for early feedback from their teams to extend better optimization of Marcus Invest.
The Marcus Invest account gives users a choice of three model portfolios of ETFs from Goldman and outside providers and can be integrated with other offerings, including a personal finance tool called Marcus Insights, on the Marcus app and online portal. The account can be started with as little as $1,000.
Earlier in December Goldman Sachs invested in Amount, a leading technology provider for financial institutions.
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