Full Disclosures for Marcus Invest

Effective as of June 29th, 2022

Table of Contents

  1. General Information
  2. Management Fees, ETF Fees, and Other Charges
  3. Rollover Details

General Information

Marcus by Goldman Sachs® is a brand of Goldman Sachs Bank USA and Goldman Sachs & Co. LLC (“GS&Co.”), which are subsidiaries of The Goldman Sachs Group, Inc. 

Brokerage and investment advisory services offered by Marcus Invest are provided by GS&Co., which is an SEC registered broker-dealer and investment adviser, and member Financial Industry Regulatory Authority (“FINRA”) / Securities Investor Protection Corporation (“SIPC”).  Research our firm at FINRA's BrokerCheck. GS&Co. is a wholly owned subsidiary of The Goldman Sachs Group, Inc., a publicly traded bank holding company and financial holding company under the Bank Holding Company Act of 1956, as amended, and a world-wide full service financial services organization. Custody and clearing services are provided by Apex Clearing Corporation, a registered broker-dealer and member FINRA/SIPC, which is not affiliated with GS&Co. See the Goldman Sachs & Co. LLC Customer Relationship Summary for a brief description of the firm’s products and services, and important information about the services provided by the firm and our relationship with our clients.

Portfolios are based on asset allocations designed by the Investment Strategy Group (“ISG”) and are invested in affiliated and unaffiliated exchange traded funds. Please consider your objectives before investing. A diversified portfolio does not ensure a profit or protect against a loss.  Past performance does not guarantee future results. Investment outcomes and projections are forward-looking statements and hypothetical in nature. Neither this website nor any of its contents shall constitute an offer, solicitation, or advice to buy or sell securities in any jurisdictions where GS&Co. is not registered. Any information provided prior to opening a Marcus Invest account is solely on the basis that it will not constitute investment advice and that GS&Co. is not a fiduciary with respect to any person by reason of providing the material or content herein.  

This offering is only available to natural persons who are (1) citizens or other lawful residents of the United States; and (2) located in the United States. GS&Co. does not provide legal advice and does not provide tax advice unless explicitly agreed to in writing between you and GS&Co. You should consult an independent tax professional regarding your personal circumstances and nothing communicated to you herein should be considered tax advice.


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Management Fees, ETF Fees, and Other Charges

The management fee is for services we provide, as well as clearing and custodial services provided by the custodian. The account holder is responsible for the management fee. The management fee is determined based on the average daily value of the assets in the applicable Advisory Account and it is paid quarterly in arrears and debited from your account. As of June 29, 2022, the management fee applicable to each Advisory Account maintained by a client is 25 basis points per year on the entire value of the Advisory Account or as otherwise specified to the client in writing by GS&Co. 

The management fee does not include the fees and expenses applicable to investment funds, including the fees and expenses that are reflected in the price of the ETF, which are deducted from the fund’s net asset value and are borne by the fund’s shareholders.

Account holders will no longer pay any additional fees for ancillary services, including but not limited to requests for printed statements, check copies or account ownership transfers, charged by Apex Clearing Corporation. GS&Co. reserves the right, however, in its sole discretion and from time to time, upon providing prior written notice to clients, to charge such expenses to client accounts, including but not limited to wire transfer fees.

For more information regarding the management fee and ETF fees associated with the program, please refer to the Goldman Sachs & Co. LLC Marcus Invest Form ADV Part 2 Brochure or your Account Agreements. Pricing is subject to change. 

Rollover Details

Before deciding to roll over a retirement account, you should consider your personal circumstances and needs. If you are considering moving from one account to another, you typically can decide among a number of options such as: keep the assets in the existing plan or account; roll over the assets to your new employer's plan (if applicable); and/or roll over the assets to an IRA. These options may offer different benefits and drawbacks in the context of your overall planning and retirement goals. Some general considerations include fees and expenses, available investment options, distribution rules including required minimum distributions, tax considerations, protection from creditors and legal judgments, differences in service levels and other factors that may be specific to your circumstances.

Marcus Invest's communications to you about rollovers are provided to you solely on the basis that they are educational and intended to provide you with general information that does not address your specific personal circumstances. They are not intended to be an individualized recommendation that you take any particular action.

IRS rules generally prohibit individuals from making more than one rollover between IRAs in any 12-month period if the IRA provider paid the IRA funds directly to the individual, rather than directly to the IRA provider for the benefit of the receiving IRA. Such rollovers are called “indirect” rollovers. There are no such limits on rollovers that are facilitated as "direct" or "trustee-to-trustee" transfers, which is the type of rollover that you would seek to initiate through the process described here. Also, in an indirect rollover, the amount distributed to the individual is net of tax withholding (i.e., less than the full account balance). Generally, amounts distributed in an indirect rollover must be deposited in a retirement plan or IRA within 60 calendar days. If the full rollover amount is not deposited within 60 calendar days, it is treated as an early distribution that is potentially subject to additional taxes and penalties.

The process described here is designed to facilitate a "direct" rollover. Marcus Invest is unable to monitor whether clients have in fact deposited funds to a Marcus Invest IRA via an indirect rollover. Please consult with your tax advisor to get more information and consider whether the restrictions on indirect rollovers apply to you. At this time, we do not offer SIMPLE IRAs or support SIMPLE IRA rollovers.