Goldman Sachs closes Marcus Invest, transferring clients and assets to Betterment.

Goldman Sachs is closing its automated-investing business Marcus Invest and transferring clients and their assets to Betterment, a $45bn digital investment-advisory firm. The deal, expected to be completed by the end of the quarter, will involve moving customers from Marcus Invest to Betterment. Goldman Sachs is scaling back its consumer-banking ambitions and focusing on its Wall Street operations.