Articles tagged "Goldman Sachs"
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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.
April 7, 2021 at 10:20 PM
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
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
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
Oisín's Doubletakes: Clara Shih returns to Salesforce after 11-year hiatus • Focus reloads for M&A with $500 million debt raise, taking its credit north of $1.5 billion • Goldman Sach's 2020 partners list looks less homogenous -- even 'accretive' of women
Former HearSay CEO returns to her mother corporation • Focus Financial Partners debt levels soar 50% on fresh debt issuance • Goldman adds diversity, but snubs Marcus partnerships
February 6, 2021 at 2:39 AM
Goldman Sachs lifts two superstar RIA recruiters from Schwab and Pershing, tipping hand on a big push into the RIA space, targeting early 2021 custody launch
The Wall Street B2B superbrand prepares RIA distribution and poaches Richard Lofgren and Bill Dalton -- with a TD Ameritrade hire potentially in the works -- months ahead of a harder launch.
