Betterment Raises Funding to Acquire Marcus Invest and Enhance Services
Betterment to Acquire Digital Investing Accounts from Goldman Sachs
Betterment's Acquisition of Marcus Invest
Key Highlights:
- Acquisition: Betterment, an independent digital investment advisor, has reached an agreement to acquire Marcus Invest's digital investing accounts from Goldman Sachs.
- Account Transition: Marcus Invest's digital investing accounts will be transitioned to Betterment on or about June 29, 2024, subject to customary closing conditions.
- Benefits for Customers: Marcus Invest customers transferring their accounts to Betterment will gain access to automated investing, diversified portfolios, tax-smart tools, account types, planning tools, educational resources, and human advisors.
Betterment's Target Market
- Target Market: Betterment primarily serves individual investors in the United States looking for digital investment advisory services.
- Investors Seeking Automated Solutions: Individuals interested in automated investment management, personalized guidance, and retirement solutions.
- Customers of Marcus Invest: Marcus Invest customers looking for a seamless transition to a trusted digital investment advisor.
What Betterment Needs to Buy
- Technology Integration: Integration of Marcus Invest's digital investing accounts into Betterment's platform.
- Customer Onboarding and Support: Resources to support the smooth transition of Marcus Invest customers to Betterment, including customer service and educational materials.
- Marketing and Branding: Strategies to communicate the benefits of the acquisition to existing and potential customers.