(via NYTimes.com) Goldman Sachs is buying Honest Dollar, a digital retirement savings tool aimed at millions of small-business employees who do not have access to traditional employer-sponsored savings plans. The year-old start-up based in Austin, connects employees of small businesses and self-employed workers with individual retirement plans managed by the Vanguard Group for a per-person, per-month fee as low as $8.
Employees answer questions online and get a portfolio recommendation composed of combinations of four Vanguard exchange-traded funds. It is part of a growing group of start-up and traditional asset management companies vying for business in the small plan retirement market, encouraged by a federal government push to make more such plans available.
(Read the story at NYTimes.com: Goldman Sachs to Buy Honest Dollar, a Small Plan Start-Up)
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