Get the hottest Fintech Switzerland News once a month in your Inbox
Betterment, the largest independent digital investment advisor in the United States, announced that it has reached an agreement with Goldman Sachs to acquire Marcus Invest’s digital investing accounts.
Marcus Invest, which offers digitally customized investment portfolios to consumers, will transfer these accounts to Betterment in the coming months.
Betterment pioneered digital investing more than a decade ago, and today serves more than 850,000 customers and manages more than $45 billion in assets. Betterment’s diversified, expert-built portfolios, commitment to service excellence, and easy-to-use technology make it a natural fit for Marcus Invest customers as they continue to build towards their financial goals.
Goldman Sachs will continue to focus on its growing Marcus Deposits platform which serves over three million customers globally and has well over $100 billion in consumer deposits.
Sarah Levy
“This acquisition further cements our leadership in the digital investing space,”
said Sarah Levy, Betterment’s CEO.
“We are excited to welcome these customers to Betterment where our scalable technology platform will continue to support them on their investing journeys.”
Subject to customary closing conditions, the digital investing accounts will be transitioned to Betterment on or about June 29, 2024. Customers will have the option to opt out of this transfer if they choose to do so. Betterment will only be acquiring Marcus Invest accounts and assets under management; it will not be acquiring any additional accounts, technology, employees, or operations as a part of the transaction.
Marcos Rosenberg
“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,”
said Marcos Rosenberg, global head of Goldman Sachs Marcus.
“Betterment was the obvious choice for those accounts as we share a deep commitment to customer satisfaction. We look forward to continuing to serve our Marcus Deposits customers with great products and a great experience.”
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
