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Joe Duran's sale to Goldman Sachs achieves impressive goal but at the expense of his far grander dream; Will Goldman leave him outside looking in?

For years, the United Capital CEO sought a financial partner that would carry his firm to a multi-billion dollar IPO and him to greatness. In the end, he settled on the high bid and murky role inside a Wall Street machine

Author Brooke Southall
May 17, 2019 at 3:03 AM
no description available
Source: 'Joe [Duran] did everything he could to avoid this.'

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Goldman Sachs closes United Capital deal and Matt Brinker, Joe Duran's wingman, exits with social media swan song on same day

The M&A chief's departure from the Newport Beach, Calif. roll-up may signal that its rolling-up days are over

July 18, 2019 at 6:13 PM

Marc Spilker adds Matt Brinker as chess piece -- and partner -- in what he calls a 'very selective' talent add to build platform-for-RIA platforms outside Wall Street

Merchant Investment Management's executive chairman wants good people good at their job and Brinker likes having a breakaway Goldman partner rather than one captive to the Wall Street giant.

January 15, 2020 at 2:42 AM

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

Goldman Sachs fought the squid, but the squid won as CEO David Solomon puts the United Capital-Ayco RIA back under the control of house asset managers

Solomon acknowledges he's largely reunifying wealth management and asset management to regain synergies after trying to give the in-house RIA agency.

November 1, 2022 at 4:03 AM

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Mentioned in this article:

United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran

Pete Stecher

Pete Stecher

May 17, 2019 — 5:04 AM
nice analysis and reporting Mr. Duran grand dream may not have come to fruition but walking away with $75 million cold hard cash silver medal consolation prize really not so bad right
Jeff Spears

Jeff Spears

May 17, 2019 — 2:52 PM
Money wins again. When Advisors break away money is always at the top of their list. Unfortunately the client seems to be lower on the list. Goldman can address the money but is not so good with putting the client first.


May 17, 2019 — 4:50 PM
Joe Delivered. Period.
Your Future RIA Industry Leader

Your Future RIA Industry Leader

May 18, 2019 — 1:58 AM
United Capital has major cultural wars going on with infighting over territories. Joes foray into Finlife caused the likes of Mariner, Creative Planning, and Mercer to eat their lunch. As Goldman institutes the Ayco compensation model, the few next gen advisors that are good (there are very few) will run with their books. It’s an easy conversation to have. Just have clients watch the Big Short as a quick reminder that Goldman is a luciferian and odious institution.
Yaakov Kuhlsky

Yaakov Kuhlsky

May 18, 2019 — 3:30 AM
Joe is a true trailblazer worth congratulating on a tremendous accomplishment. But ultimately he will write a 4th book, keep going on CNBC, and keep telling his rags to riches success tale we all know by heart (no Gail Graham humdrum pun intended). The real story here is the comedown and ramifications for United and the people who are not Joe Duran
Mr. J. L. Livermore

Mr. J. L. Livermore

May 18, 2019 — 3:43 PM
Mr. Southall, At the influence of my great great grandchildren, I am inclined to use my Cookie Monster voice to capture the GS moments of bliss. Cookie Monster impersonation starting now - "mmmmmmmm mmmmmm me love cookie! Mmmmm (cookie ravishing sounds) mmmmmm me love.... "Uni..." (more cookie ravishing sounds)" ted" mmmmm cook... mmmm "Capi..." mmmm (crunching sounds) "tal." Had to be said. JLL

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