Betterment, a leading digital investment platform, has announced its acquisition of Marcus Invest

Betterment, the leading independent digital investment advisor in the United States, has announced an agreement with Goldman Sachs to acquire Marcus Invest’s digital investing accounts.

Marcus Invest, known for its digitally tailored investment portfolios, will transfer these accounts to Betterment in the coming months.

Having pioneered digital investing over a decade ago, Betterment currently serves more than 850,000 customers and manages assets exceeding $45 billion. With its diversified portfolios, dedication to service excellence, and user-friendly technology, Betterment is an ideal destination for Marcus Invest customers as they work toward their financial objectives.

Goldman Sachs will maintain its focus on its expanding Marcus Deposits platform, serving over three million customers globally and managing well over $100 billion in consumer deposits.

“This acquisition further solidifies our leadership in the digital investing arena,” said Sarah Levy, Betterment’s CEO. “We are thrilled to welcome these customers to Betterment, where our scalable technology platform will continue to support them on their investment journeys.”

Subject to customary closing conditions, the transition of digital investing accounts to Betterment is scheduled for approximately June 29, 2024. Customers will have the option to opt out of this transfer if they choose. Betterment emphasizes that it will only acquire Marcus Invest accounts and assets under management, without acquiring any additional accounts, technology, employees, or operations as part of the transaction.

“As we prioritize our growing Marcus Deposits platform, we made the decision to transition away from our digital investment advisor offering and sought to find a suitable destination for those customers,” said Marcos Rosenberg, global head of Goldman Sachs Marcus. “Betterment was the clear choice for those accounts as we both share a deep commitment to customer satisfaction. We eagerly anticipate continuing to serve our Marcus Deposits customers with exceptional products and experiences.”

Source: fintechnews.ch

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