Goldman Sachs has launched a robo-investment offering that helps retail clients achieve their financial goals by automatically rebalancing their portfolios with the use of exchange-traded funds.
Marcus Invest offers over 50 ETF products invested in bonds and equities, categorised across three strategies.
Core is for investors who believe "it's hard to beat the market's average returns" and invest in companies based on their market capitalisation.
Impact invests in companies that meet certain environmental, social and governance (ESG) criteria, while Smart Beta scores companies on fundamental and technical factors of performance.
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"We'll recommend a diverse mix of stock and bond ETFs that are aligned with your goal. You'll have exposure to a range of industries and economies, so you have multiple opportunities for growth and won't be tied to the fate of a single stock," the website shows.
The functions that are automated include the portfolio recommendation tool, account monitoring and rebalancing.
"However, there is frequent human involvement in designing and providing oversight to our investment process, ETF selections, and portfolio recommendations," the firm said.
Marcus Invest charges an annual advisory fee based on the average daily value of assets, deducted at the end of each quarter. The fee covers the cost of asset allocation, trades, daily monitoring, and periodic rebalancing.
The robo-adviser is part of Goldman Sachs' consumer finance offering, Marcus, which launched in 2016 initially providing loans and savings accounts.
Marcus was named after the firm's founder Marcus Goldman.