Goldman Sachs Looking at Wealth Management for the Mass Affluent

Goldman Sachs continues to be one of the most active companies in all of finance when it comes to new products; they are now looking to expand their Marcus brand to offer wealth management to the mass affluent; these are people outside the high net worth market that Goldman has traditionally focused on; this new product will be built around employers through Goldman’s Ayco division; CFO Stephen Scherr said, “This is a very large market, with $9 trillion in mass affluent customer assets across more than 20 million U.S. households.” Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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