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After co-founder Rob Foregger departs NextCapital, the CEO turns around and sells the company to Goldman Sachs, which calls it 'another tool'

The Chicago 401(k) robo-advisor became a ‘plug-in’ versus a ‘platform,’ relegating it to a guest role, a pragmatic move, yet, perhaps, diminishing its destiny.

Author Oisin Breen April 6, 2022 at 4:48 AM
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David Solomon likes wealth management for its steady and predictable fees, and he's willing to pay transaction fees to get them.

Brian Murphy

Brian Murphy

April 6, 2022 — 7:25 PM
Another company that never quite figured it out. The path to changing the industry and a successful business model in Wealth Technology is NOT B2B. Only way into the big leagues (ie. a sustainable, competitive business) is delivering a B2C experience that competes against the current AUM model and isn't tied to any particular custodian. Rethink what end users need and deliver that...period.

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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

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Goldman Sachs RIA custodian delayed indefinitely, as 'technical details' bedevil launch date

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