GeoWealth Adds Direct Indexing From GSAM to UMA Program

By William Johnson, July 29, 2025. As originally published in CitywireRIA.

Goldman Sachs Asset Management (GSAM) is making its direct indexing capabilities available to RIAs in a unified managed account (UMA) for the first time, via a partnership with Tamp GeoWealth.

The partnership, which was first announced in late 2024, gives users of GeoWealth access to a suite of GSAM strategies via the Tamp’s UMA. 

‘What we did is simplify the implementation of combining a direct index with alternatives, mutual funds and ETFs in one account,’ Greg Weiss, head of wealth customized solutions at GSAM, told Citywire. ‘Normally, that’s very complicated ... it’s very manual, and above all, it’s inefficient, because it takes away a lot of time for an RIA to administer all of this via multiple accounts.’

Direct indexing allows investors to own the individual components of an index rather than a fund tracking it, which allows them to make custom adjustments, such a screening stocks in line with their ethical beliefs, or tax-loss harvesting to offset potential capital gains. This customization is increasingly in demand among high-net-worth clients, Weiss said. 

‘There’s no one size fits all when it comes to SMA investing and high-net-worth investors don’t like cookie cutter,’ he said.

Weiss said he expected wealthy investors’ portfolios to be increasingly customized in the future. 

‘If you’re a high-net-worth investor, the core of every portfolio will be direct indexing and munis customized by state, surrounded by high conviction mutual funds, ETFs and alternative investments to amplify the outcome of the portfolio,’ he said.

Direct indexing strategies are the second capability that GSAM has added to the GeoWealth UMA program this year. In May, the Tamp made available custom public-private model portfolios from the asset manager.