Betterment to Buy Marcus Invest's Digital Investing Accounts From Goldman Sachs
By Josh Beckerman
Robo-adviser Betterment agreed to buy Marcus Invest's digital investing accounts from Goldman Sachs, which will continue to focus on its Marcus Deposits platform.
Marcos Rosenberg, global head of Goldman Sachs Marcus, said in a Betterment press release that "as we increase our focus on our growing Marcus Deposits platform, we made the decision to transition away from our digital investment advisor offering and wanted to find a great home for those customers."
The Marcus Deposits platform has well over $100 billion in consumer deposits, the company said.
The digital investing accounts are expected to transition to Betterment on or about June 29. The transaction only includes Marcus Invest accounts and assets under management. It won't include additional accounts, technology, employees, or operations.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 22, 2024 13:42 ET (17:42 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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