Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Goldman Sachs' investment advice is no longer just for the super rich

Goldman Sachs' investment advice is no longer just for the super rich

Move over, Robinhood, here comes Goldman Sachs.

The prestigious investment bank, known mainly for advising the affluent how to manage their money and for helping to engineer big deals on Wall Street, unveiled a new robo-adviser Tuesday for the average investor.

Marcus Invest, an offshoot of the company's Marcus retail banking arm, will let Goldman Sachs customers buy exchange-traded funds with as little as $1,000.

Goldman Sachs (GS) will not be recommending specific stocks, though, even as Robinhood, Webull and other online brokerages have become popular places for traders to place bets on so-called "meme" stocks like retailer GameStop (GME) and movie theater chain AMC (AMC).

"You'll have exposure to a range of industries and economies so you have multiple opportunities for growth and won't be tied to the fate of a single stock," Marcus Invest said on its website.

In that respect, Marcus Invest seems geared more toward passive investors looking to plan for retirement of other long-term goals as opposed to active traders on the Reddit WallStreetBets board seeking to make a quick buck by betting on individual stocks or cryptocurrencies such as bitcoin (XBT).

Marcus Invest also said that it will monitor portfolios daily and automatically rebalance accounts to keep them on track with longer-term goals.

Goldman Sachs is making a big bet on Marcus to diversify and reach new customers. The asset management and investment advisory business is increasingly targeting younger customers that want to take more responsibility for their own finances as well.


Other brand name financial firms are also taking on services like Robinhood and Webull, which have helped popularize zero commission trading accounts.
Charles Schwab (SCHW) now owns TD Ameritrade while Morgan Stanley (MS) has acquired E-Trade. Mutual fund giant Fidelity also has an online brokerage.

The launch of Marcus Invest is just the latest move by Goldman Sachs to bolster the unit further.

Goldman Sachs announced last month it was partnering with card issuing company Marqeta, which the investment bank has a stake in, to begin offering digital checking accounts to Marcus customers later this year.

Goldman Sachs also said in January that it is collaborating with MasterCard (MA) to issue General Motors (GM)-branded credit cards. The bank is already partnering with Apple (AAPL) on the iPhone maker's Apple Card.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Hungary Ranked Among the World’s Safest Travel Destinations for 2025
G7 Leaders Fail to Reach Consensus on Key Global Issues
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Man Convicted of Fraud After Booking Over 120 Free Flights Posing as Flight Attendant
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Beata Thunberg Rebrands as Beata Ernman Amidst Sister's Activism Controversy
Hungarian Parliament Approves Citizenship Suspension Law
Prime Minister Orbán Criticizes EU's Ukraine Accession Plans
Hungarian Delicacies Introduced to Japanese Market
Hungary's Industrial Output Rises Amid Battery Sector Slump
President Sulyok Celebrates 15 Years of Hungarian Unity Efforts
Hungary's Szeleczki Shines at World Judo Championships
Visegrád Construction Trends Diverge as Hungary Lags
Hungary Hosts National Quantum Technology Workshop
Hungarian Animation Featured at Annecy Festival
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
UK and EU Reach New Economic Agreement
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
UK and EU Reach Agreement on Gibraltar's Schengen Integration
Israeli Finance Minister Imposes Banking Penalties on Palestinians
U.S. Inflation Rises to 2.4% in May Amid Trade Tensions
Trump's Policies Prompt Decline in Chinese Student Enrollment in U.S.
Global Oceans Near Record Temperatures as CO₂ Levels Climb
Trump Announces U.S.-China Trade Deal Covering Rare Earths
Smuggled U.S. Fuel Funds Mexican Cartels Amid Crackdown
Austrian School Shooting Leaves Nine Dead in Graz
×