Why Goldman Sachs is delaying its robo advisor until 2021 - Fintech News

Anyone eagerly anticipating Goldman Sachs' foray into digital advice will have to wait a while longer. Goldman has decided to delay the launch of its robo advisor until 2021, Chief Operating Officer John Waldron said during a webcast presentation at Bernstein's annual Strategic Decisions Conference. The firm is also slowing its hiring of financial advisors. The postponement comes as new account openings surge at other digital advice providers. However, some firms worry marketing these services in the wrong way may appear out-of-touch amid a health and economic crisis brought on by the coronavirus, analysts say.