Brass has one property gold does not. The former has some magnetic qualities. The institution synonymous with the latter symbol of wealth, Goldman Sachs, sees the attractions of brass too.

After launching a Main Street bank, Marcus, three years ago, its latest shift towards the wider consumer market is digital wealth management. It plans to roll out a robo advisory for those with as little as $5,000 to invest. These folks may have less to invest, but there are many more of them. Yet that same pull towards a mass market risks tarnishing Goldman’s gilt-edged brand.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now