Goldman's forthcoming investment platform would target individuals in the US with liquid assets between $100,000 and $1 million:
This is an excerpt from a story delivered exclusively to Business Insider Intelligence Fintech Briefing subscribers.Goldman Sachs revealed earlier this week it's developing an investment platform that will be offered via its digital offshoot Marcus and target US' mass affluent segment, consisting of individuals with liquid assets between $100,000 and $1 million,These consumers collectively hold $9 trillion in assets, per Goldman CFO Stephen Scherr.
Goldman will look at partnerships with employers to lure customers to its investment platform. Scherr said that Goldman-οwned Ayco, which works with corporate executives across 220 of the top 1,000 US companies, has the potential to facilitate the banks' customer acquisition efforts for its new wealth product.
The wealth management product could be attractive as it includes both digital and human services. Offering human advice is a smart move: Consumers prefer hybrid wealth advisory models, per
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