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Articles tagged "Goldman Sachs"


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Brad Genser: 'Advisors are also able to build a three times bigger book.'

Farther struts its startup magic and shows why a $375-million RIA can be worth $50 million -- by getting four advisors to bring books of business just to be part of the enterprise

The San Francisco firm claimed its software was at another level and now advisors are betting careers on it, though not of the UHNW variety imagined

November 2, 2022 at 3:27 AM

David Solomon: 'It's not that by doing this that we're doing something dramatically different.'

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

Bill Dalton: Our goal is to offer advisors the best of both worlds.

Goldman Sachs both clarifies and adds complexity to its RIA custody launch with press release reporting its' best-of-both-worlds' platform onboarded a '$1-billion' Merrill Lynch team

The New York City investment bank signed Beverly Hills Private Wealth, and it 'never really' had any timeline to meet, it tells an industry publication.

October 8, 2022 at 2:50 AM

Gregory Banasz: Goldman's RIA custodian will officially launch in 2023.

Pershing wins $27-billion Steward Partners RIA custody account after Goldman Sachs boots launch and pressure built for an alternative to 'jilted' Raymond James

Goldman's effort to capitalize on No. 3 TD Ameritrade's absence, starting with (among others) Steward, is for now going to the actual new No. 3, BNY Mellon's Pershing

October 4, 2022 at 10:35 PM

Greg Calnon: NextCapital brings a creative spirit.

Goldman Sachs closes deal for NextCapital to extend a tentacle into the 401(k) market and yank out 'a thorn in the side of the retirement industry'

The New York City bank now owns a unit that had slowing growth pre-deal but may face fresh headwinds carrying the baggage of its new owner.

August 30, 2022 at 1:07 AM

David Solomon: Over the course of the next three years to five years, it will be an area that we see opportunity in.

Goldman Sachs CEO confirms RIA custody service back-burnered amid exec exits, cut budgets and slipped deadlines relating to wealth management

David Solomon says resources will be 'small' for years, which leaves Folio acquisition twisting in the wind as Greg Vigrass and others leave -- amid parallel departures at its national RIA.

August 4, 2022 at 12:29 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

David Solomon likes wealth management for its steady and predictable fees, and he's willing to pay transaction fees to get them.

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.

April 6, 2022 at 4:48 AM

Maeve DuVally: We are working closely with teams across Goldman Sachs, as well as clients, to ensure that these new services align.

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

The clock is ticking on the New York City investment bank's strategic imperative to strike while TD Ameritrade and Schwab merge, but Goldman may be facing similar obstacles combining with Folio Institutional.

March 16, 2022 at 2:47 AM

Shannon Eusey: ''Beacon Pointe will have the opportunity to further invest in the business and continue to expand our footprint.'

KKR rewards Beacon Pointe with mega recap after the roll-up made the leap from $10 billion to $20 billion in AUM in 18 months

CEO Shannon Eusey's team will still hold 'over 50%' of firm but takes chips off the table after KKR infusion in her 2002-founded firm -- which launched a rollup as an adjunct in 2011.

November 16, 2021 at 1:58 AM

Matthew Belnap: I would never want to call advisors 'lazy' but I do think there’s a strong element of inertia here, and wanting to keep doing things the way they’ve always done it.

RIAs are just not that into ESG investing -- at their peril, a new study says. That makes a leap: This is the one case where the customers -- both RIAs and their clients -- are wrong.

Cerulli is the latest to question RIAs for 'not fully understanding' ESG as an emerging megatrend, which could lead to a potential disconnect with Next Gen investors.

May 18, 2021 at 1:12 AM

Goldman Sachs analyst added Schwab to its 'conviction list' -- more evidence Chuck's business model rocks. .

A Goldman Sachs analyst declares Charles Schwab & Co. stock a 'conviction' buy, after another year of Goldman inching its wealth model toward Schwab's

The New York City investment bank's researcher said Wall Street is failing to grasp just how valuable the discount broker's franchise will be as interest rates begin to normalize.

April 7, 2021 at 10:20 PM

Omer Ismail has swapped a position as Goldman's retail banking chief, to lead Walmart's financial technology venture.

Walmart gets fintech jump on Amazon but headwinds imperil pricey launch of new venture, even with Robinhood VC backer and top Goldman talent on board

The Bentonville, Ark.-based big-box retailer is likely bidding to become a bank, again. It also just trashed Goldman Sachs robo-bank, Marcus, by nabbing two top executives.

March 8, 2021 at 11:04 PM

Michael Katchen is exiting Wealthsimple from the U.S. market -- for now. ​​  ​​  ​

Oisín's Bits: Betterment now a robo roll-up with Canadian IPO as catalyst • Insurers risk regulation for COVID-19 coverage delays • Vanguard shifts Asia focus to China's vast mom-pop retail market

Betterment rolls up a robo • The CFA warns insurers over COVID-19 life polices • Vanguard names Chinese fund head to pursue $6 trillion market.

March 5, 2021 at 1:16 AM

Stephanie Cohen: "We like trading at Goldman. It just wasn't first on the list.'

Goldman Sachs adds 'vanilla' robo as Marcus bank topping and -- behold -- a warning shot for taking on Robinhood for retail trades

The New York giant's investing robot may one day provide industrial strength day-trading side bets but, for now, is being soft-peddled as a child-proof Marcus bank bolt-on tool.

February 18, 2021 at 6:54 AM

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