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Articles tagged "United Capital"


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Joe Duran: I've never had in seven prior fundings something go so smoothly.

Charlesbank bets bank on Joe Duran -- 'very risky' by private equity standards -- but the 'Rise' model, capital amid scarcity and a 'Joe' factor have observers high on its prospects

The Boston- and New York-based blue-chip 'middle market' player stakes the Duran 'accelerator' venture $250 million with a view to a killing in a market starved for get-over-the-hump expertise and financing

February 1, 2024 at 4:41 PM

David Solomon: With our clear and simplified strategy, we have a much stronger platform for 2024.

Goldman Sachs salvages $349-million 'gain' from its United Capital misadventure that may also be a $400-million haircut

The New York City investment bank managed a sale and jailbreak of its in-house mass-affluent RIA but was able to get enough assets transitioned to Peter Mallouk's Creative Planning for the accounting win

January 19, 2024 at 1:45 AM

Joe Duran: 'At Rise we are the growth capital partner.'

Joe Duran's second RIA act is rocking with eight staff, four co-founders and a conspicuously anti-United Capital concept that will flip RIA stakes 'eventually' as a minority investor

The United Capital founder paradoxically promises to 'passively' buy minority stakes as a backdrop for going hyper-active with quick-strike capability to apply super-consulting and technology to create explosive growth as a prelude to a sale.

November 29, 2023 at 3:23 AM

Peter Mallouk: [We're] considerably ahead of schedule, even excluding United Capital.

Peter Mallouk ends up losing the majority of Goldman-United Capital advisors in headline-intensive deal but keeps the lion's share of the managed assets

The Creative Planning CEO's acquisition hemmorhaged 175 advisors but leaked just $9 billion of AUM, softened by snapping up $13 billion AUA Mesirow 401(k) business and retaining $20 billion from United Capital, post deal close.

November 11, 2023 at 1:56 AM

David Solomon: 'A lesson learned is by selling United Capital it allows us to take resources and add it to our investment in ultra-high net worth growth.

Goldman Sachs CEO calls United Capital debacle 'lesson learned,' amid RIA exodus, and operating losses

David Solomon pushed a big reset button as Goldman Sachs shares reset to 2021 level; pieces were sold in a flurry, and he renounced his disc jockey side-gig.

October 21, 2023 at 1:56 AM

Ari Sonneberg: It would not be a good look for Goldman Sachs to be bullying small RIAs.

Goldman Sachs' sweeping legal effort to crush 'United Capital' advisor exodus may prove largely meaningless -- with little chilling effect on flood of defections

The New York City investment bank is filing FINRA arbitrations with abandon as RIA departures pile up, but the squid may not get much sympathy -- in court or the court of public opinion.

October 10, 2023 at 3:32 AM

Jim Rivers has his work cut out for him at Goldman Sachs' 'United Capital 2.0.'

Goldman Sachs-Creative Planning deal is bleeding defectors -- 16 more last week, report says -- auguring a 'potential disaster,' analysts warn

Dozens of former 'United Capital' advisors are fleeing at once, but Peter Mallouk is still battling to keep them, and Goldman Sachs may play legal hardball, sources say.

October 4, 2023 at 2:16 AM

Goldman Sachs Headquarters: GS is helping Peter Mallouk to rapidly wire the 'United Capital' deal. [Photo from Google Commons.]

Peter Mallouk told heads at Goldman Sachs' 'United Capital' today on group Zoom that he'll name new president within 14 days -- and whether 'United Capital' brand survives within 20 days

The Creative Planning CEO talked 'next steps' after vast majority of teams sign on that include a companywide summit within 30 days

September 22, 2023 at 2:59 AM

Peter Mallouk: 'I think, historically, this is a group that has been burned a bit.'

Peter Mallouk has now signed on 30 Goldman Sachs advisory offices, he says, by improvising a fourth option after advisers gave the side-eye to three others

The Creative Planning CEO says he is developing 'United Capital 2.0' on the fly to combat distrust and his Zoom ofensive is netting results

September 12, 2023 at 9:27 PM

Casey Harrison has a reputation for 'seamlessly' integrating advisors in an RIA.

Modern Wealth Management hires a Goldman Sachs RIA integration whisperer and is emerging as dark horse to reap 'United Capital' baubles as bidding war for the Goldman Sachs RIA unit takes another lap

The Monterey, Calif., rollup nabbed Goldman's Casey Harrison, veteran of 50 transitions, and has been fashioning a landing pad for nine months for three impressive hires today.

August 24, 2023 at 4:33 AM

David Solomon is extracting Goldman Sachs from middle-brow asset management.

Source: Goldman Sachs expected to announce sale of 'United Capital' on Monday or Tuesday, which tells more about the Wall Street bank's dysfunction than Joe Duran's old rollup

The New York City investment bank is 'at war with itself,' the Wall Street Journal says, in part, because ex-CEO Lloyd Blankfein's hare-brained ideas about extending its B2B brand were made worse by current CEO David Salomon..

August 19, 2023 at 2:47 AM

Peter Mallouk: Our potential to move the [Goldman Sachs] needle is real.

Peter Mallouk grants Goldman Sachs a 'multi-billion dollar' RIA custody opportunity but only after meeting his co-equal president in the Goldman c-suite

The Creative Planning founder, president and CEO spent time with John Waldron, president and chief operating officer of the Goldman Sachs mothership, before putting its custody service on the menu for his advisors and clients

July 25, 2023 at 3:25 AM

Jason Gordo: This is not United Capital 2.0.

Sold to Goldman Sachs then spit out by the squid, three Joe Duran acolytes are taking $200 million into bargain RIA M&A minus a 'polarizing' 'pied piper' but plus chips on three shoulders

Mike Capelle, Jason Gordo and Gary Roth raised $200 million, bought a $1 billion firm and are now off to the races with RIA-rollup Modern Wealth Management.

April 25, 2023 at 3:13 PM

Joe Duran: I happen to be the weird intersect between Goldman Sachs and the RIA.

Joe Duran will co-develop Goldman Sachs unit aimed at outsourcing to non-Goldman RIAs after 'magic' never materialized for direct-to-consumer RIA

The Newport Beach, Calif. RIA legend plans to shift from B2C to B2B to fix Goldman's disconnect with RIAs and play to the strengths for him and the bank

February 8, 2023 at 3:03 AM

David Fox: We're hiring out of school ... molding them into our vision of the perfect planner.

Goldman Sachs turns big page on United Capital with big changes for Joe Duran and FinLife, giving its home-grown executive money, mandate and HR muscle to create national RIA

The New York investment bank's radio silence on its staggering $750-million RIA purchase in 2019 comes to an end with the beginning of the David Fox era.

May 27, 2022 at 1:01 AM

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