Goldman Weighs Options for Investment-Adviser Business

Goldman Sachs said it is considering options for its $29 billion investment adviser business, in what could mark the latest step back from its ambitions to be a bigger Main Street player.

In a statement Monday, the bank said the investment-adviser business, which it refers to as personal financial management, was a very small component of its overall wealth-management operations. "We are currently evaluating alternatives for that business," Goldman said. "We expect to find an outcome that benefits both our clients and our advisors."

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