More on the Goldman Sachs robo: Q&A with FinLife chief Rachel Schnoll
Goldman Sachs’ newly built robo is locked and loaded. The question is, where will its sights be trained?
Rachel Schnoll, the new head of Goldman’s RIA platform FinLife CX, has said that the firm is considering launching the robo to compete for retail clients, but it was now eyeing it as an additional tool for independent advisors as well.
“Advisors struggle with small clients and what to do with them. So one of the things that we've been thinking about adding is a robo to help advisors with their small clients. This is something that Goldman Sachs has actually built. We just haven't deployed yet,” Schnoll said at the Schwab Impact conference, earlier this month.
She also indicated that instead of piling into a crowded retail investment landscape, Goldman may instead decide to launch the robo on its FinLife platform, which came along with the acquisition of United Capital in May.
Read what else Schnoll has to say about how Goldman’s robo could help crack the mass-affluent code, about the challenges that come with the best and rarest type of client, and how investment technology is continuing to shape wealth management.