You don’t need to drive a Rolls-Royce, own a personal jet, or shop for couture to invest with Goldman Sachs anymore.
The financial service company is now reaching out to small personal investors—and “small” in this case doesn’t mean “goes to Lake Como only four times a year.”
Marcus Invest, launched today, has a minimum account size and minimum initial deposit of $1,000.
According to the new robo-advisor’s website, Marcus Invest is all about diversification.
“We’ll recommend a diverse mix of stock and bond [exchange-traded funds] that are aligned with your goal,” it says. “You’ll have exposure to a range of industries and economies so you have multiple opportunities for growth and won’t be tied to the fate of a single stock. Day-to-day investment work is handled for you: we monitor your portfolio daily and automatically rebalance your account to keep it aligned with your goal.”
There’s a 0.35% advisory fee, so if you’re starting with $1,000, that’s $3.50 per year.
Marcus as an online platform itself isn’t new. It was launched in October 2016 to offer unsecured personal loans. The brand is named after Goldman Sachs cofounder Marcus Goldman, who started the business with his son-in-law Samuel Sachs.
Goldman Sachs was a Fast Company Most Innovative Company in 2017, in part because of Marcus.
Check it out here.