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The bank plans to offer some of the sophisticated investment strategies that it has long reserved for its deep-pocketed clients to customers of robo-adviser Betterment. Goldman is structuring portfolios for everyday investors that are meant to help them save money on their taxes, in part by moving their cash from ultrasafe bank accounts to fixed-income exchange-traded funds that involve more risk.
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Except for deposit accounts, Goldman has been pulling back from its foray into Main Street and is focusing on making money by providing services to companies that work with consumers. The bank is aiming to generate more fee revenue to offset swings in its larger dealmaking and trading businesses.
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