News & Announcements

Weil Advises Goldman Sachs on Sale of Marcus Invest’s Digital Investing Accounts to Betterment

Weil is advising Goldman Sachs in its sale of Marcus Invest’s digital investing accounts, which offers digitally customized investment portfolios to consumers, to digital financial advisor Betterment LLC.  Subject to customary closing conditions, the transaction is anticipated to close in the second quarter of 2024.

Launched in 2010, Betterment is the largest independent digital financial advisor, helping more than 850,000 customers manage over $45 billion with a high-yield cash account; curated selections of low-cost, expert-built investing portfolios; personalized guidance; and tax-smart tools.

The Weil team advising Goldman Sachs is led by Weil Private Equity partner Brian Parness and includes associates Larissa Lucas, Josh Schechter, Gracy Wang and Zack Hawkins (Not Yet Admitted in New York); International Tax Head Devon Bodoh and associate Carlos Parra; Private Funds Regulatory partner David Wohl and associate John Bradshaw; Antitrust Co-Head Jeffrey Perry and counsel Alexis Brown-Reilly; and Head of U.S. Privacy and Cybersecurity Olivia Greer and associates Catherine Kim and Sabrina Chishti.