Improvement of Digital Investing Accounts Acquisition

Betterment, a leading independent digital investment advisor based in NYC, has announced its agreement with Goldman Sachs to acquire the digital investing accounts of Marcus Invest. This move will see Marcus Invest’s digitally customized investment portfolios transferred to Betterment in the coming months.

The financial terms of the deal were not disclosed, but the transition of the digital investing accounts is expected to take place around June 29, 2024, pending customary closing conditions. Betterment will be taking over the accounts and assets under management from Marcus Invest, with customers having the option to opt out of the transfer if they so choose.

Once the accounts are transferred, Marcus Invest customers will gain access to automated investing, diversified portfolios, and tax-smart tools through Betterment. Additionally, they will have access to various account types, planning tools, educational resources, and the option to consult human advisors.

Sarah Levy, CEO of Betterment, expressed excitement about the acquisition, stating that it further solidifies the company’s position as a leader in the digital investing space. Betterment, founded in 2010, leverages automated technology and human expertise to offer savings, investment, and retirement solutions to over 850,000 customers, managing more than billion in assets with a focus on personalized portfolios and tax-efficient strategies.

Overall, this acquisition represents a strategic move for Betterment to expand its reach and offerings in the digital investment landscape.