Betterment, a NYC-based 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.
The amount of the deal was not disclosed.
Marcus Invest, which offers digitally customized investment portfolios to consumers, will transfer these accounts to Betterment in the coming months.
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.
Marcus Invest customers who transfer their accounts to Betterment will get access to automated investing, diversified portfolios, and valuable tax-smart tools. They will also have access to a range of account types, planning tools, educational resources and human advisors, if they wish.
Commenting on the news Sarah Levy, CEO of Betterment, said: “This acquisition further cements our leadership in the digital investing space.”
Launched in 2010, Betterment is an independent digital financial advisor, using automated technology empowered by human expertise to provide saving, investing, and retirement solutions. The company serves more than 850,000 customers to manage over $45 Billion with curated selections of investing portfolios, personalized guidance, and tax-smart tools.
FinSMEs
23/04/2024