Goldman Sachs Group Inc is launching a digital wealth-management platform that allocates and rebalances customers' wealth across portfolios of stocks and bonds.
The low-cost platform, Marcus Invest, will allocate wealth based on models developed by the bank's investment-strategy group.The latest digital banking push is in line with Chief Executive David Solomon's plan to reduce Goldman's reliance on volatile trading and investment banking revenue, while shifting focus towards Marcus, its consumer banking unit.
Thats cool.
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