Goldman Sachs to offer digital wealth management to the masses
Goldman Sachs has announced its intent to offer wealth management services to those with as little as USD5,000 via a robo-advisory solution.
The robo-advisor will offer solutions to clients under the brackets of USD5,000, USD10,000 and USD15,000, according to a report by the Financial Times.
The solution stems from a firm recently acquired by Goldman Sachs, United Capital, which was bought by the Investment bank for USD750 million.
The minimum investment value is yet to be cemented, but Joe Duran, Founder, United Capital, has said that the amount will be “significantly lower” than traditional accounts, those typically attributed to those with USD1 million to USD10 million in investable finances.
Duran has said that the solution will target those “with low complexity” and “not that much in asset,” with the solution said to be “a pipeline for future clients.”