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Goldman Sachs acquires online SIMPLE provider

Goldman Sachs has agreed to acquire a startup that helps small businesses set up Simple IRA, SEP IRA, or basic IRA contribution plans.

By Nick Thornton | Updated on March 14, 2016
In this March 15, 2012 photo, a trader works in the Goldman Sachs booth on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)

Goldman Sachs has agreed to acquire Honest Dollar, an Austin, Texas-based startup launched in 2015 that helps small businesses set up SIMPLE IRA, SEP IRA, or basic IRA contribution plans.

On its website, Honest Dollar markets itself as a cheaper alternative than sponsoring a 401(k) plan. The platform helps sponsors automate enrollment into IRAs built on low-cost exchange traded fund investment options.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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