Marcus Invest by Goldman Sachs is much more accessible to investors

Goldman Sachs has announced that it will reduce the minimum account and management fees for Marcus Investing Accounts starting Wednesday, June 29th. The minimum account amount has been significantly reduced from $ 1,000 to $ 0, with a minimum investment of only $ 5.

In addition, the company has reduced its portfolio management fees from 0.35% to 0.25%. These welcome changes to the Robo Advisory Investment Platform. The robo-advisor investment platform manages portfolio choices on behalf of investors.

According to Harshal Goel Marcus of Goldman SachsThe portfolio is based on a model created by the Goldman Sachs Investment Strategy Group. The portfolio is matched with the investor based on the answers to the questions asked by the investor when creating an account and according to the investment goals set by the investor.

The portfolio consists of a combination of Equity and Bond Exchange Traded Funds (ETFs). Investors can choose risk tolerance from conservative to aggressive. This determines the percentage of equities (high risk) and bonds (conservative) in the proposed portfolio. Users can monitor how well their portfolio works online or through the Marcus Invest app.

Also: Nova Finance aims to give DeFi access to all investors through automation and education

“Marcus Invest is designed to make it easy for consumers to invest and bring Goldman Sachs expertise to more viewers in a digital-first way,” Goel said. .. “We have updated the account minimum and management fees to make our products more accessible and to provide more value to our customers. Everything we do is based on customer centricity and is based on customer centricity. These updates are no exception. “

Now that living expenses are steadily increasing, it may be a real benefit to have a platform that allows you to make your money work for you without having to do a lot of work on your side. Also, since there is no minimum account amount and a minimum investment of only $ 5, this could be a good opportunity for future investors who have not yet entered the field. However, there are inherent risks associated with investing.

“Each situation is different, and it’s important to think about how much risk you’re trying to take and see the overall financial situation before you start investing,” Goel said.

Goldman Sachs isn’t the only one to make changes to the robo-advisor investment platform. Wells Fargo also lowered its investment requirements in May through an intuitive investor platform.

It’s not as cheap as Goldman Sachs’ Marcus Invest, but if consumers already have a Wells Fargo banking relationship, it can offer an easier route to enter the world of investment.