Goldman Sachs Transfers Robo-Investing Accounts to Betterment

Goldman Sachs is continuing its exit from consumer finance by transferring its robo-investing accounts to Betterment. Last year, Goldman scaled back its consumer finance operations after significant losses. The Marcus Invest accounts and assets under management will be acquired by Betterment, but no additional accounts, technology, employees, or operations will be part of the transaction. Goldman Sachs will focus on growing its Marcus Deposits platform, which has over 3 million customers and $100 billion in consumer deposits.

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