Goldman Sachs’ Investment Management Division (IMD) has concluded the purchase of Honest Dollar, a web and mobile-based retirement savings platform.
Honest Dollar enables employees of small- and medium-sized businesses to begin saving and investing for retirement by establishing individual retirement account (IRA)-based savings programs.
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The deal, first announced in March 2016, is part of Goldman Sachs’ effort to serve about 45 million Americans who do not have access to employer-sponsored retirement plans.
Honest Dollar will maintain its presence in Austin, Texas. Also, Greg Wilson will join William Hurley, the current CEO of Honest Dollar, as co-head of the business, Goldman Sachs said.
Most recently, Wilson was head of the Sub-Advisory & Platform Solutions Group, part of for North America in Goldman Sachs Asset Management.
"Goldman Sachs and Honest Dollar are a powerful team to provide innovative solutions to help millions of people save for retirement with confidence and the tools necessary to achieve their investing goals," Wilson commented.
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