Truist Financial is selling off its 401(k) unit, the company announced on Wednesday, January 6. Terms of the transactions were not disclosed.

Goldman Sachs is carrying out an employee beta test for Marcus Invest, a new automated investment service for retail consumers that will be offered through the bank’s consumer brand Marcus by Goldman Sachs, CNBC reported.

Wahed, a U.S.-based Islamic fintech that offers a compliant investment management platform, has acquired Niyah, a British company that runs a banking app designed for Muslim communities. Terms of the deal were not disclosed.

Betterment and Wealthfront, two early robo-adviser startups that ushered in a wave of automated investment tools more than a decade ago, are preparing to expand their market share and scale more quickly.

JPMorgan Asset Management this month acquired 55ip, a Boston and Mumbai-based fintech that offers tax automation technology for financial advisers. Terms of the deal, expected to close by the end of the year, were not disclosed.

The J.D. Power 2020 U.S. Wealth Management Mobile App Satisfaction Study reports that while customers use wealth management apps more the pandemic, client satisfaction lags behind other consumer financial institutions such as credit card companies, retail banks and insurance companies.

Financial Planning first reported that 6-year-old wealth management software firm Oranj is shutting down by the end of the year.

Bumped, a Portland, Ore.-based investment app, launched after years in a controlled beta. The app partners with brands to offer consumers fractional share rewards after making purchases.

Schwab Charitable, the wealth management firm’s provider of donor-advised funds, launched new features to enhance client access to charitable giving, including a socially responsible fixed income pool, and the elimination of minimums on initial and subsequent contributions to donor-advised fund accounts.

Micro-investing app Acorns, which also offers personal finance and banking capabilities, is teaming up with ZipRecruiter in an effort to expand its footprint and deliver more value to its client base.

UBS Workplace Wealth Solutions, a unit within the financial firm that offers wealth and retirement solutions for workplace clients, is partnering with New York-based fintech FutureFuel.io to offer users a range of student loan repayment options, including reassessments, refinancing, roundups, “Give Back” (repayment through cash-back rewards), and other solutions.

Fidelity-owned financial planning tech firm eMoney Advisor has rolled out a new financial planning and wellness app called Incentive. The platform is made for financial advisers who will use the tool to help their clients.

Global investment management company T. Rowe Price has appointed Raymone Jackson as head of diversity and inclusion.

Lufax, one of China’s largest digital investment management platforms, filed paperwork for a U.S. IPO this week. It joins Chinese financial services firms Ant Group and JD Digits, the fintech arm of digital retail marketplace JD.com, both of which went public earlier this summer.

Bank of America launched Life Plan, an end-to-end digital personal finance and financial wellness platform.