The enhanced family office platform integrates capabilities across the firm to provide à la carte services or an advisor-led holistic solution.
NEW YORK, November 12, 2024 – The Goldman Sachs Group, Inc (NYSE: GS) today announced an evolved family office platform that offers its private wealth clients flexibility, choice, and simplicity. The firm has integrated its Ayco and Private Wealth Management (PWM) family office offerings, leveraging decades of experience in providing an advisor-led outsourced family office. As a part of the new platform, the firm is also building out an à la carte service solution, designed to meet targeted client needs and preferences.
There is a clear shift in client preferences for broader services customized to their specific needs. Increasingly, clients want comprehensive wealth management, akin to a family office without the operational and administrative burden of running one, as well as the flexibility to utilize different services as their needs evolve. The newly enhanced Goldman Sachs Family Office will provide clients access to a holistic, customizable approach to wealth management. This unified family office platform will be led by Stacy Mullaney, global head of the Goldman Sachs Family Office, and will include:
“When we talk to our clients about whether or not to build a family office, three themes stand out: strong governance, flexibility to meet the needs of the extended family, and continuity. We are committed to delivering exceptional value and personalized support to meet our clients where and how they want to be served based on their unique and evolving needs, ensuring that families can effectively manage and grow their wealth across generations,” said John Mallory, co-head of global Private Wealth Management.
“We know our clients value the global network and deep resources of Goldman Sachs. By integrating our services into one platform, we can provide the scale and resources necessary to meet our clients’ increasing demand for holistic wealth management, along with the flexibility to meet different needs at different points in time,” said Stacy Mullaney. “This enhanced platform will provide a continuum of services and allow us to now say ‘we are your family office’ – whether that be targeted à la carte solutions or an advisor-led holistic solution.”
PWM draws upon years of investment experience working with large institutional family offices globally through its Goldman Sachs Apex team. The Apex team delivers unique investment opportunities, sophisticated intellectual capital, private market expertise and differentiated deal flow and access sourced from across Goldman Sachs and a deep network of partners. The Apex team also facilitates many forums across the globe for family offices to network, share best practices and convene on topics that are top of mind.
The broader Ayco business continues its focus on partnering with more than 500 corporate clients to help executives optimize time and effectiveness. Services may include integrated wealth planning (insurance, tax planning & preparation, estate planning, and more), access to the Goldman Sachs wealth platform, and full-service coordination and implementation assistance. Ayco delivers corporate-sponsored wealth planning benefits to executives and the broader workforce at over 50% of the Fortune 100, and nearly a quarter of the Fortune 1000.
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About Goldman Sachs Private Wealth Management
Goldman Sachs Private Wealth Management specializes in creating comprehensive wealth management plans for ultra-high net worth individuals and families, as well as select institutions, including foundations and endowments. Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
Media Contact:
Victoria Zarella
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Goldman Sachs Family Office Services “Family Office Services” will be provided to certain Private Wealth Management clients of Goldman Sachs & Co. LLC. (“GS&Co”) based on individual client needs. Not all clients will receive all Family Office Services. Family Office Services do not include investment and brokerage services for clients’ GS&Co. accounts which will continue to be provided by GS&Co. pursuant to the terms of the agreements between those clients and GS&Co. While GS&Co. or an affiliate does itself provide certain Family Office Services, other Family Office Services may be provided by subcontractors, independent service providers, or other third parties (collectively, “Third Party Vendors”). Services provided by Third Party Vendors are wholly independent of those provided by GS&Co. and may include additional terms of service and supplemental fees may apply. Services provided by Third Party Vendors may include either courtesy third-party referrals or integrated third-party services that are subject to supplemental agreements with GS&Co. Where GS&Co. provides a courtesy third-party referral, it is not responsible for the supervision, monitoring, management, or performance of such Third Party Vendors. GS&Co. does not provide legal, tax, or accounting advice to its clients, unless explicitly agreed between the client and GS&Co., and GS&Co. does not offer the sale of insurance products. GS Family Office services offered through Goldman Sachs and Co. LLC. Member FINRA/SIPC.
© 2024 Goldman Sachs.
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