GeoWealth is extending its platform of personalized portfolio offerings for RIAs through a newly forged agreement with Goldman Sachs.
On Monday, the firm announced it is partnering with Goldman Sachs Asset Management on a unified managed account platform designed to help RIAs better serve high-net-worth clients.
The UMA platform, designed aims to deliver personalized portfolios at scale through GeoWealth’s technology, will allow RIAs to create open-arthitecture portfolios using various investment vehicles. Advisors will have the flexibility to tailor these models to meet client-specific tax needs, preferences, and objectives.
Under the partnership, GSAM has made numerous flagship ETF and mutual fund model portfolios from its multi-asset solutions (MAS) team available on GeoWealth's platform. Working together, the two firms will expand that to include other ETFs and mutual funds, alternatives, SMAs, direct indexing and fixed income solutions.
This summer in June, GeoWealth entered into an expanded partnership with BlackRock, similarly offering advisors the ability to access private marekts, direct indexing, and fixed-income SMAs alongside conventional ETFs and mutual funds through the TAMP.
“Advisors are continually seeking better investment outcomes for their clients," Padideh Raphael, global head of third-party wealth at Goldman Sachs Asset Management, said in a statement announcing the latest GeoWealth partnership. "We can help RIAs enhance their portfolio construction and management to provide customized solutions at scale, leveraging our decades of asset allocation experience."
Greg Weiss, head of wealth customized solutions at Goldman Sachs Asset Management, highlighted the growing attention across the industry for customized model portfolios, particularly as the demand to provide personalization at scale continues to rise.
“Custom models that include SMAs, especially direct indexing, are a priority for RIAs to better serve their clients, and we look forward to delivering this capability together with GeoWealth,” Weiss said.
Colin Falls, chief executive officer of GeoWealth, underscored his firm's "flexible UMA technology [that] lets advisors create their own models and combine them with multiple managers in a single account, streamlining operational complexity."
Most firms think they are ready for the ultra high net worth market. Most are not.
Stifel has paid or is on the hook for close to a staggering $200 million in damages and settlements to former clients of Chuck Roberts.
UBS also expanded in the Southeast with six advisors overseeing more than $2 billion, while Osaic lured a $300 million family-led practice from Wells Fargo's FiNet.
The new AI workspace rollout promises to automate the full advisor workflow just as third-party tools wage a turf war for central control of wealth firms' tech stacks.
Mega-RIA picks up $250M advisor, while three firms head for &Partners.
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.
