Goldman Sachs weighs sale for part of its wealth business

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Goldman Sachs is weighing the sale of a part of its wealth business catering to high net worth clients, it said on Monday, as it shifts its focus back to serving the ultra-rich. The Wall Street bank is evaluating alternatives for its registered investment adviser unit, called Personal Financial Management (PFM), which manages about $29 billion, it said in a statement. Goldman bought the registered investment adviser, formerly known as United Capital Financial Partners, for $750 million in 2019 when it managed about $25 billion in funds.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting -- Sculptor Capital Management Inc. spurned an unsolicited bid from a group of hedge fund giants including Boaz Weinstein, Marc Lasry and Bill Ackman, the latest twist in the takeover of one of Wall Street’s best-known investment firms.

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Goldman Sachs weighs sale for part of its wealth businessBy Saeed Azhar NEW YORK (Reuters) - Goldman Sachs is weighing the sale of a part of its wealth business catering to high net worth clients, it said on ...
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Goldman Sachs weighs sale for part of its wealth business catering to high net worth clientsGoldman Sachs is evaluating alternatives for its registered investment adviser unit, called Personal Financial Management, which manages about $29-billion
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