Goldman Sachs, the mega Wall Street investment bank, is preparing to launch a digital investing service for people with as little as US$5000. It is a robo-advisor automated platform that will enable Goldman to enter the smaller retail market.
The robo-advisor has been built with algorithms from United Capital, which Goldman has bought for US$750 million. The robo-advisor service will be provided through the Marcus segment. Whether it will be a hybrid human-digital operation to enhance the personal touch is not yet clear.
Marcus is Goldman’s consumer division offering no-fee personal loans of up to US$40,000 and savings accounts with annual yield of 1.7%.
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