tldrdailynews.com logo

Goldman Sachs Sells Off Investment Advisory Business, Creative Planning Steps In

1 min read
Source: Investopedia
Goldman Sachs Sells Off Investment Advisory Business, Creative Planning Steps In
Photo: Investopedia
TL;DR

Goldman Sachs has agreed to sell its $29 billion Personal Financial Management (PFM) unit to Creative Planning, a Kansas-based Registered Investment Advisor (RIA). The move is part of Goldman's strategy to refocus on its core client base of ultra-high net worth investors. The sale is expected to positively impact the wealth division's finances and boost its profit margin. Creative Planning, one of the largest private investment advisors in the US, is well-positioned to take over Goldman's PFM unit.

Topics:top-newsfinance#creative-planning#finance#goldman-sachs#investment-advisory#personal-financial-management#ultra-high-net-worth-clients
Share this article
  1. Goldman Sachs Sells Off $29 Billion Investment Advisory Business  Investopedia
  2. Why Creative Planning Is Buying Goldman's Wealth Unit  Bloomberg Television
  3. Goldman Sachs unloads another business acquired under CEO David Solomon  CNBC
  4. Goldman strikes deal to sell unit that offers financial advice to the masses  Yahoo Finance
  5. Your Evening Briefing: Goldman Sells Unit Aimed at Mass-Affluent Market  Bloomberg

Want the full story? Read the original reporting

Read on Investopedia