Goldman Sachs Private Wealth Management: what do you need to know?

1 min readLast updated May 30, 2024by Unbiased team

Learn about Goldman Sachs Private Wealth Management, the firm’s offerings, its pros and cons, and what clients they take on.

Summary 

  • Goldman Sachs Private Wealth Management offers financial services designed to manage high-value private wealth and investments. 

  • The firm offers expert investment advice to individuals, families, and business institutions. 

  • Goldman Sachs Private Wealth Management clients must have at least $10 million invested with the firm. 

  • Finding the right financial advisor is crucial to making smart investment decisions.  

Introduction to Goldman Sachs Private Wealth Management 

Goldman Sachs Private Wealth Management is part of Wall Street’s investment banking management portfolio. The investment management division boasts a complete team of over 2,400 professional financial advisors and has offices established throughout the United States. 

The private wealth management group provides investment advice to individuals, families, and institutions with high net worths. This division currently manages around $220 billion worth of assets. 

What services do Goldman Sachs Private Wealth Management offer? 

Goldman Sachs Private Wealth Management offers a range of financial services to its individual and institutional clients. These services include investment advisory, trading, structuring, and hedging solutions.  

The division also assists with income and estate planning, gift planning, philanthropy, generation-skipping tax planning, private banking, trust and estate administration, and advisory services for select institutions. 

Family office services such as reporting and analytics, tax assistance, administration, cyber and physical security, and health advisory services are also available to specific clients. 

What is Goldman Sachs Private Wealth Management’s investment philosophy? 

The institution’s investment philosophy forms an essential part of this Goldman Sachs Private Wealth Management review. The division offers its clients a broad range of investments and asset classes, with investment vehicles ranging from equities, fixed income, and cash to alternative investments such as hedge funds and private equity. 

Goldman Sachs can also create custom investment vehicles for its individual clients. The Goldman Sachs Investment Strategy Group — a team of international investment experts — assists with portfolio diversification and asset allocation based on each client’s investment goals, time horizons, risk tolerance, and unique financial situations. 

What is Goldman Sachs Private Wealth Management’s pricing and fee structure? 

Goldman Sachs Private Wealth Management fees are structured according to one of two primary fee structures: a single advisory fee structure and a strategy-based structure. The first option may be recommended to clients who have invested across numerous asset classes.  

The type of fee structure selected is based on various factors, including how much a client will pay in fees according to each model. 

These fee structures and Goldman Sachs Private Wealth Management minimum investments are applied to advisory accounts managed by Goldman Sachs’ private wealth experts. 

Goldman Sachs Structured Investment Strategies

Client Asset LevelTotal Fees
USD$0 - $10 million 1.90%
USD$10 million - $25 million 1.70%
USD$25 million - $50 million 1.60%
USD$50 million - $100 million 1.50%
USD$100 million - $250 million 1.40%
USD$250 million - $500 million 1.30%

Additionally, private wealth management Goldman Sachs clients may pay markups, commissions and equivalents, spreads, and markdowns in addition to the fees above. Family office service, custody, and consolidated reporting fees may apply.  

Clients are responsible for paying all fees and expenses related to their private investment funds and mutual funds. 

Is Goldman Sachs Private Wealth Management trustworthy? 

Goldman Sachs is generally considered trustworthy, but it is important to take note that the organization has been the subject of multiple disciplinary events over the past ten years. 

It is also important to be aware that Goldman Sachs and its advisors are compensated for the sales of certain banking products, securities, and other services and investments. This means that they may be more likely to recommend these affiliated products than outside products and investment vehicles. 

What are the pros and cons of Goldman Sachs Private Wealth Management? 

There are both advantages and potential disadvantages to investing your financial assets through Goldman Sachs Private Wealth Management. 

Pros 

  • Goldman Sachs Private Wealth Management provides expert assistance for ultra-high-net-worth organizations and individuals. 

  • The firm’s services are personalized and tailored to those with complex financial situations and numerous assets. 

  • Goldman Sachs offers private banking services and customized management plans. 

  • The services offered include assistance with trust administration and other services related to the management of high-net-worth assets and investments. 

Cons 

  • Goldman Sachs Private Wealth Management does not cater to individuals and organizations that are not high net worth. 

  • Clients must have at least USD$10 million to invest in order to qualify for the firm’s services. 

  • Advisors may receive compensation for the sale of securities and other investments, which may create the risk of conflicts of interest. 

How to open an account with Goldman Sachs Private Wealth Management? 

Opening an account with Goldman Sachs Private Wealth Management begins with signing an investment advisory agreement with the firm. You will need to choose an investment objective and portfolio goals that align with your greater investment objectives and preferred level of risk tolerance. 

To open a new account, you must also meet or exceed Goldman Sachs Private Wealth Management's minimum investment thresholds. 

Get expert financial advice 

Although Goldman Sachs Private Wealth Management has been subject to disciplinary actions in the past, it offers a comprehensive range of financial services targeting a variety of assets and investment vehicles, along with professional family office services to manage and diversify high-value portfolios effectively. 

Let Unbiased connect you to an expert financial advisor and secure tailored financial advice to meet your individual needs and goals. 

Writers

Unbiased team

Our team of writers, who have decades of experience writing about personal finance, including investing and retirement, are here to help you find out what you must know about life’s biggest financial decisions.