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Betterment, the biggest robo-advisor in the USA, announced its settlement to amass Marcus Make investments’s digital investing accounts from Goldman Sachs.
This transfer will see Marcus Make investments clients transitioned to Betterment within the coming months, integrating them into an already substantial shopper base of over 850,000 and managing belongings that prime $45 billion.
What Is Betterment?
Betterment has been on the forefront of digital investing, championing a customer-centric method that mixes refined know-how with customized monetary recommendation. The acquisition of Marcus Make investments’s accounts is poised to additional improve Betterment’s market place by absorbing a portfolio that enhances its present providers and ethos.
Sarah Levy, CEO of Betterment, expressed enthusiasm in regards to the acquisition, noting, “This acquisition additional cements our management within the digital investing area. We’re excited to welcome these clients to Betterment the place our scalable know-how platform will proceed to assist them on their investing journeys.”
Clients of Marcus Make investments can anticipate a seamless transition to Betterment’s platform, which gives a mix of automated investing tools, diversified portfolios, and tax-smart methods. Moreover, the transition will present entry to a collection of planning instruments, instructional sources, and the choice to seek the advice of with human advisors.
The switch of digital investing accounts is scheduled to happen on or about June 29, 2024, topic to customary closing circumstances. Clients shall be given the selection to choose out of the switch ought to they resolve towards transferring their accounts to Betterment. Importantly, the transaction contains solely the Marcus Make investments accounts and belongings below administration; it doesn’t entail the switch of know-how, staff, or different operational parts.
What About Marcus by Goldman Sachs?
Goldman Sachs will pivot to pay attention extra on its Marcus Deposits platform. This space of their enterprise has seen vital development, serving over three million clients worldwide and managing in extra of $100 billion in shopper deposits.
See the place Marcus stands on our list of the Best High-Yield Savings Accounts.
Marcos Rosenberg, international head of Goldman Sachs Marcus, commented on the transition, stating, “As we enhance our deal with our rising Marcus Deposits platform, we made the choice to transition away from our digital funding advisor providing and wished to seek out an important dwelling for these clients. Betterment was the plain alternative for these accounts as we share a deep dedication to buyer satisfaction. We look ahead to persevering with to serve our Marcus Deposits clients with nice merchandise and an important expertise.”
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