00:00It's Benzinga bringing Wall Street to Main Street
00:02Goldman Sachs is betting more Boomer Candy options will attract wealthy clients as it
00:06agrees to pay up to $2.25 billion for Neos investments, according to the Wall Street
00:11Journal. Neos manages about $30 billion, specializing in ETFs that use options and
00:17other derivatives to generate regular income, reduce tax bills, and offer stock market upside
00:22with less risk. These products, dubbed Boomer Candy, have become popular among older investors,
00:26seeking market gains with downside protection, including buffer funds that limit both losses
00:31and gains. Goldman cited Morningstar data showing the market for derivative funds has grown to $180
00:37billion at a 70% compounded annual growth rate. The acquisition follows Goldman's roughly $2 billion
00:43purchase of Innovator Capital Management earlier this year and will make the bank the eighth
00:47largest active ETF manager. For all things money, visit Benzinga.com.
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