Goldman Sachs Personal Financial Management

Goldman Sachs Personal Financial Management
FormerlyUnited Capital
Company typeDivision
IndustryFinancial services
Founded2005; 19 years ago (2005)
Founders
  • Joe Duran
  • Bob Doede
Defunct2023 (2023)
FateAcquired
SuccessorCreative Planning
Headquarters
Newport Beach, California
,
United States
Area served
Worldwide
Key people
ServicesFinancial life management, investment management
AUMUS$ 24 billion (2018)[1]
Number of employees
487 (2023)
Parent
Websitewww.goldmanpfm.com[dead link]

Goldman Sachs Personal Financial Management (GSPFM) was a former division of Goldman Sachs responsible for wealth management of high-net-worth individuals.[2] It had 74 offices in the United States and managed $25 billion in assets.[1][3]

In November 2023, it was announced that Creative Planning had completed the acquisition of GSPFM.[4]

In 2021, the average customer had $1.3 million in assets managed by the division.[5] A separate division, Goldman Sachs Private Wealth Management, serves ultra high-net-worth individuals where customers have at least $10 million in investable assets.[6]

  1. ^ a b FA Staff (2015-06-15). "United Capital Acquires Two Firms". Financial Advisor. Retrieved 2015-10-20.
  2. ^ "ABOUT GOLDMAN SACHS PERSONAL FINANCIAL MANAGEMENT". Retrieved 2020-04-05.
  3. ^ Lauren K. Ohnesorge (2015-04-14). "United Capital acquires 30-year-old Chapel Hill advisory firm". Triangle Business Journal. Retrieved 2015-10-20.
  4. ^ "Creative Planning, LLC completed the acquisition of Goldman Sachs Personal Financial Management from The Goldman Sachs Group, Inc. (NYSE:GS)". Market Screener. 3 November 2023. Retrieved 2023-12-15.
  5. ^ Pendleton, Devon. "How Goldman Sachs Is Getting Cozy With Main Street Investors and Their Money". ThinkAdvisor. Retrieved 2023-06-05.
  6. ^ "Relationship with Goldman Sachs Private Wealth Management" (PDF).