Goldman Sachs Group Inc. has taken a big step forward and has launched an investing app for customers that want to put at least $1,000 to work.
According to the company, investors using the app, which went live on February 16th, can put money into automated portfolios rather than individual stocks and bonds. The move expands the Marcus platform, which also offers a high-interest savings account.
Goldman, which has traditionally served a wealthier client base, is taking steps to broaden its reach through new digital products. The investing platform features exchange-traded funds that focus on traditional stock and bond benchmarks, impact investments and smart-beta products designed by Goldman. The advisory fee is 0.35%, according to the Marcus website.