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Articles tagged "Goldman Sachs"


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Taylor Matthews: We just wanted to make sure we worked out the kinks

Farther exhales then reveals that it has poached 10 advisors from Goldman Sachs since September, not without trepidation about poking the squid

The VC-backed RIA stared down legal perils to grab United Capital defectors but is now in 'good shape,' its CEO says, revealing that it grabbed 32 advisors and about $3 billion in the past three quarters

July 12, 2024 at 10:22 PM

Nick Richtsmeier: RIAs need to get straight answers from Goldman.

Goldman Sachs is holding its first RIAs-only event -- with Mark Tibergien as keynote -- but it's invitation-only for GSAM clients and RIA clients of Big Three custodians get equal priority

Goldman Sachs Asset Management is going big for 100 select advisors at its two-day 'RIA Professional Investor Forum' with Bill Belichick and no brokers for the first time.

May 4, 2024 at 12:39 AM

Stephanie Cohen (pictured) has left Goldman Sachs after 25-years, following its failed retail banking bid.

Breen Blitz: Mercer seals Vanguard OCIO buy • Goldman[Sachs] & Cohen split • PIMCO joins ETF shift • AdvisorEngine-Schwab bond grows • Ellevest milestone • Lonsdale nets new chief • Fidelity leaks data & staff move • Collation wins RIAs • Justin Wisz returns as investor • LPL nets CMO & Tifin a CEO

OCIO sale to Mercer may be Buckley's last act • Goldman's retail lead departs • PIMCO latest to convert mutual funds • Software firm upgrades Schwab data • Krawcheck preaches wisdom of naps • Fidelity hit by data snafu, but D&I on track • New Lonsdale tech shop imminent • Vestorly founder now funding start-ups • Eight month wait for CMO ends at LPL.

March 21, 2024 at 4:41 AM

Richard Lofgren: 'I see enthusiasm and optimism every day.'

Inside Goldman Sachs' on-again, off-again custody play; a cacophony of false starts, pauses, delays, staff departures, technology glitches and morale issues bedevil RIA custody unit, RIABiz learns

Four years after buying Folio Financial, Goldman Sachs is testing the patience of RIAs, and maybe its own partners according to analysts and sources inside and outside the firm; but Goldman is preaching a new "optimism" and pledging lessons learned.

March 5, 2024 at 4:52 AM

Peter Mallouk: Advisors can use GSAM like they work there -- at a very in-house price.
February 16, 2024 at 2:40 AM

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

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

William Cerynik: We took a gamble ... [but Goldman is doing] what TD Ameritrade did, but for a different segment.

An RIA 'gambled' on Goldman Sachs to custody client assets because he saw folksy TD Ameritrade-like service wrapped inside a gold standard brand -- with no lane swerves

Ashton Thomas, which manages $2 billion, has tried every custodian, and finds Goldman, ironically, may have the least channel conflict for RIAs because they 'know their lane'

July 15, 2023 at 1:40 AM

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