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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
Admin:
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Source: 'Joe [Duran] did everything he could to avoid this.'

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.
MD

MD

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

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January 15, 2020 at 2:42 AM

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

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

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Mentioned in this article:

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



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