Articles tagged "Goldman Sachs"
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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 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
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
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
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
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
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
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
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
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
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
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
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
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
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.
