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Goldman could diversify its client base
- By purchasing United Capital and onboarding its retail-focused wealth advisors, Goldman could diversify its client base while more broadly delivering access to the deep intellectual capital and specialty investment capabilities of the firm.
www.thinkadvisor.com/2024/05/13/why-goldman-bought-and-sold-united-capital/
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Why did Goldman Sachs acquire United Capital?
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May 18, 2019 · Goldman Sachs closed a deal to acquire wealth management company United Capital for $750 million in cash on Thursday, as part of Goldman’s long-term strategy to push into wealth...
May 16, 2019 · Acquiring United Capital — a boutique firm that has $25 billion in assets under management and more than 22,000 clients — instantly gives Goldman Sachs a larger footprint in wealth...
May 16, 2019 · Goldman Sachs agreed to pay $750 million in cash to buy United Capital, a registered investment adviser with 220 wealth managers and $25 billion in assets under management.
- Henry Blodget
May 15, 2019 · Goldman Sachs has been quiet on its wealth management strategy. But the acquisition of United Capital brings it one step closer to being a major player.
Jan 29, 2020 · During Goldman Sachs’ first-ever investor day, a move to bring more transparency to the publicly-traded bank and encourage investors, the company laid out a three-year plan. Part of that included doing away with the name of United Capital, the RIA it bought for $750 million in 2019.
May 16, 2019 · (Reuters) - Goldman Sachs Group Inc on Thursday agreed to buy boutique wealth management firm United Capital Financial Partners Inc for $750 million (585 million pounds) in its biggest deal...
