Goldman Sachs
Morgan Stanley Wealth Revenue Jumps 6% Amid Pandemic
Morgan Stanley’s capital strength is attracting wealth management clients, and advisors, says CEO James Gorman.
Goldman Q2 Wealth Revenue Jumps from 2019, Falls from Q1
Market appreciation and assets from Goldman’s 2019 purchase of United Capital boosted wealth revenue from a year ago, but it was off 9% from first quarter on Covid effects.
Goldman Brakes Advisor Hiring Plans, Delays Digital Wealth Offering
The coronavirus pandemic has caused Goldman to slow down plans to expand its wealth force and to introduce a new digital service for less wealthy investors.
Goldman to Buy Folio Financial, Venture Into RIA Custody
After absorbing the mass affluent United Capital RIA firm in July, Goldman pushes ahead to custody assets of other RIAs through acquisition of tech-savvy Folio.
Goldman Duped Women Into Giving Up Right to Sue, Lawyers Say
Goldman Sachs Group Inc. tricked women into waiving their right to sue the firm, the women said in asking a court to bar the firm from forcing them into arbitration in a closely watched gender bias case.
Goldman Wealth Division Profit Dips 11% Despite Revenue Jump
The firm’s Consumer and Wealth Management segment booked a 21% first-quarter revenue jump, due in part to fees collected from customers of the RIA it bought last summer.
Goldman Tells Rich Clients U.S. Stocks Still Offer Best Returns
Goldman Sachs Group Inc. is advising its wealthy clients to return to equities and particularly favors U.S. stocks on optimism for a strong economic recovery after the end of the virus lockdowns.
Goldman Loses Two Teams Generating $32.5 Mln to UBS, First Republic
Goldman groups overseeing some $6 billion in Boston and L.A. and $4 billion in New York jump to competitors.
Goldman Loses Crypto Czar as Another Tech Partner Departs Bank
Rana Yared, a rising star who once was in charge of building out the crypto-trading operations at Goldman Sachs Group Inc., is leaving in the firm’s latest loss of senior tech talent.
Schwab to Pay for New Accounts, Customize Asset Management Products
To counter competitors, Schwab will offer premium rates on cash and develop “direct” indexing products and special programs for high-net-worth clients, CEO says.
Goldman Targets 20% Growth in U.S. Advisors
Investment bank’s biggest hiring push will occur overseas to build its base of ultra-wealthy clients, while it focuses in the U.S. on training advisors and building market share with mass-affluent and sub-$10-million investors.
