Tuesday, 20 February 2018 12:44

Goldman Set to Grow its Wealth Management Business

Written by
Rate this item
(0 votes)

(New York)

When you think of the big wealth management players in the country, even just the big wirehouses, Goldman Sachs is not a name that comes to mind. More associated with investment banking, the bank now plans to greatly expand its wealth management practice as it tries to bring in ultra high net worth individuals as customers. The bank plans to grow advisor headcount by 30% by 2020, with CEO Lloyd Blankfein commenting “The world seems to be growing rich people faster than we can grow advisers to cover them”. Goldman Sachs currently has 700 advisors.

FINSUM: So they only have 700 advisors, but the typical client has over $50m in assets. Goldman is certainly going after the high margin strategy here.

Contact Us



Subscribe to our daily newsletter

We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…