Goldman Sachs Consolidates Family Office Platform

News November 13, 2024 at 04:58 PM
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Goldman Sachs has unveiled an “evolved” family office program that brings together capabilities from its Ayco subsidiary with its private wealth management family office offerings into one place, dubbed Goldman Sachs Family Office.

As a part of the combined platform, the firm is building out an à la carte service solution, designed to meet targeted client needs and preferences while delivering access to a holistic, customizable approach to wealth management.

The unified family office platform will be led by Stacy Mullaney, global head of the Goldman Sachs Family Office. In a statement, she cited clients' increasing desire for comprehensive wealth management “akin to a family office without the operational and administrative burden of running one.”

Clients will be able to select services from a menu that includes consolidated reporting, alternative investment administration, cybersecurity resources and more. Goldman Sachs is also integrating third-party fintech platforms to deliver "modern and digital offerings to clients."

Family Office Solutions will be led by Chris Gleason, while the Private Family Office group will continue to be led by Laura Carroll, with services provided by Goldman Sachs Ayco.

In addition to supporting the combined platform, the broader Ayco business will continue its focus on partnering with corporate clients to help executives "optimize time and effectiveness," according to the announcement. To this end, services include integrated access to the Goldman Sachs wealth platform and full-service coordination and implementation assistance.

Credit: Bloomberg

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