Industry News
Goldman Sachs weighs RIA referral program: sources
Ian Wenik / Apr 09, 2025
The new referral program would send some new clients of Goldman's executive financial counseling division, Ayco, to independent wealth managers who work with the bank and asset manager.
Goldman Sachs is contemplating the development of a new program which would refer some clients from its executive financial counseling business, Ayco, out to independent RIAs, according to sources with knowledge of the situation.
The program’s launch is not imminent, sources said. Goldman Sachs may ultimately opt not to pursue the new referral business, a source added.
If the referral network does go live, it would not affect existing Ayco clients, according to a source with knowledge of the situation; instead, Goldman Sachs would send some new Ayco clients who may be better suited at an RIA out to one of its independent wealth manager customers in exchange for an ongoing referral fee, which would be a percentage of the client’s assets under management.
A Goldman Sachs spokeswoman declined to comment.
The referral program would not be tied to Goldman Sachs’ new RIA custody unit, Goldman Sachs Advisor Solutions, according to a source with knowledge of the situation. In addition to its custody...
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