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SAN DIEGO — Goldman Sachs has built its own robo advisor and is ready to push it into the market. Now the Wall Street giant is considering how to launch.
The automated advice platform would be Goldman’s digital entry into the smaller investor market, said Rachel Schnoll, the new head of Goldman’s FinLife CX, its RIA platform, on the sidelines of Schwab’s annual Impact conference.
“Advisors struggle with small clients and what to do with them,” Schnoll said. “One of the things that we've been thinking about adding ... is a robo to help advisors. This is something that Goldman Sachs has actually built — we just haven't deployed yet.”
Mass affluent digital advice is being increasingly filled with robo advisors from some of the largest custodians and banks. The latest in early October was...