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Goldman Sachs Asset Management and GeoWealth Announce Unified Managed Account (UMA) Agreement

October 27, 2024 | 4 minute read
Giving growing RIAs the tools to help their high-net-worth clients navigate a complex investing landscape by efficiently creating personalized portfolios at scale.

(New York, NY, October 28, 2024) – Goldman Sachs Asset Management today announced an agreement with financial technology firm GeoWealth to offer investment solutions tailored to help Registered Investment Advisors (RIAs) better serve the complex investing needs of high net worth (HNW) investors. RIAs will be able to offer a total portfolio solution personalized at scale for each investor. This innovative solution will be implemented in single accounts using GeoWealth’s unified managed account (UMA) platform.

Goldman Sachs Asset Management will partner with GeoWealth, RIAs and their chief investment officers to build open-architecture custom models that reflect RIA’s views and selections. These models will be designed using SMAs, ETFs, direct indexing, mutual funds, and alternatives and can be personalized by the RIA for each investor’s tax situation, preferences, and objectives.

“Advisors are continually seeking better investment outcomes for their clients. We can help RIAs enhance their portfolio construction and management to provide customized solutions at scale, leveraging our decades of asset allocation experience on behalf of the world’s most significant institutions. GeoWealth’s technology solution will unlock valuable time for RIAs to focus on their existing clients’ planning needs and to attract new clients,” said Padideh Raphael, Global Head of Third Party Wealth at Goldman Sachs Asset Management.

“We are thrilled to work with GeoWealth to offer a total portfolio solution designed to meet the needs of HNW investors and implemented through UMA technology to significantly reduce operational complexity,” Ms. Raphael continued.

“We are committed to helping RIA clients who historically have been unable to offer this level of portfolio customization due to capacity and scale challenges. Custom models that include SMAs, especially direct indexing, are a priority for RIA firms to better serve their clients with more than $1 million to invest, and we look forward to delivering this capability together with GeoWealth,” said Greg Weiss, Head of Wealth Customized Solutions at Goldman Sachs Asset Management.

“We are excited to bring the institutional investment capabilities of Goldman Sachs Asset Management to our client base as we enter our next phase of growth,” said Colin Falls, Chief Executive Officer of GeoWealth. “Our flexible, innovative UMA technology lets advisors create their own models and combine them with multiple managers in a single account. This advanced ‘sleeving’ capability makes capitalizing on the flexibility of UMAs more efficient by streamlining operational complexity and enhancing peace of mind.”

Flagship model portfolios (including mutual funds and ETFs) from Goldman Sachs Asset Management’s Multi Asset Solutions (MAS) team are currently offered on GeoWealth’s platform. Goldman Sachs will work with GeoWealth to further develop custom model portfolios comprising mutual funds, ETFs, alternatives and SMAs, including direct indexing and fixed income.

About Goldman Sachs Asset Management

Goldman Sachs Asset Management is the primary investing area within Goldman Sachs (NYSE: GS), delivering investment and advisory services across public and private markets for the world’s leading institutions, financial advisors, and individuals. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity, alternatives, and multi-asset solutions. Goldman Sachs oversees approximately $3.1 trillion in assets under supervision as of September 30, 2024. Follow us on LinkedIn.

About GeoWealth

GeoWealth is a turnkey asset management platform (TAMP) and financial technology solution built specifically for the needs of modern Registered Investment Advisors (RIAs). GeoWealth’s user-friendly, cost-efficient, integrated technology enables advisors to access a diversified lineup of model portfolios and fully offload mid-and back-office responsibilities, including performance reporting, billing, portfolio accounting, and more. Via its customizable open-architecture platform, GeoWealth enables advisors and firms to grow faster and serve clients more efficiently. Founded in 2010, GeoWealth is headquartered in Chicago, IL. Visit us at geowealth.com and follow us on LinkedIn.

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Risk considerations and disclosures

Each service provider mentioned is solely responsible for the information provided on its services and fees, and for its performance of its services. Information provided by GeoWealth is not verified by Goldman Sachs Asset Management. Inclusion of Goldman Sachs' or Goldman Sachs Asset Management's name or logo on GeoWealth's website, advertisements, or any other communications does not indicate that the information contained therein is provided or approved by Goldman Sachs.

GeoWealth, not Goldman Sachs, is responsible for its advisory relationships with clients.

Assets Under Supervision includes assets under management and other client assets for which Goldman Sachs does not have full discretion.

Goldman Sachs does not provide legal, tax or accounting advice. Goldman Sachs clients should obtain independent tax advice based on their particular situation.

GeoWealth, not Goldman Sachs Asset Management, is responsible for monitoring wash sales and any other potential loss disallowance as a result of disposition of a security in the portfolio.

Investment returns may vary. Not a guarantee of future performance; investing involves risk, including loss of principal. To review historical performance, please visit am.gs.com.

Date of first use: October 28, 2024