Goldman Sachs Asset Management, L.P

CRD#107738
Investment Advisor Firm

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Learn more about Goldman Sachs Asset Management, L.P

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations

    • Overview

    Goldman Sachs Asset Management, L.P is a financial advisory firm that has its headquarters in New York, New York. Goldman Sachs Asset Management, L.P controls $902.5 billion in assets over 46,658 accounts, making it one of the largest investment advisory firms in the nation by assets under management (AUM). The firm has a very large group of 1,366 employees, eight hundred ninety-six of whom are financial advisors. Goldman Sachs Asset Management, L.P does not act as a registered broker-dealer, signifying that the firm cannot buy and sell securities for its accounts and those of its clients and instead is required to go through a broker-dealer firm to do so. Securities are defined as exchangable fiscal investments like bonds, equities and options.

    Goldman Sachs Asset Management, L.P administers more than half of the firm's accounts on a discretionary basis. Discretionary management is a structure in which transaction choices for the client's account are made by an investment advisor without requiring the customer's permission. The firm also administers 15,798 non-discretionary accounts with a total of $27.9 billion in assets under management. The company's average account size is $19.3 million. The typical financial advisor at Goldman Sachs Asset Management, L.P oversees about 52 client accounts, placing it towards the middle in terms of personalization.

    The firm's main office is located at 200 West Street, New York, New York 10282. It is allowed to serve customers throughout 51 U.S. states and territories.

    Assets Under Management

    $902.5 billion

    Number of Advisors

    896

    Fee Structure

    Asset-based, Fixed, Performance-based, Other

    Disclosures

    Yes

    Office Location

    200 West Street
    New York, NY 10282

    Goldman Sachs Asset Management, L.P by the Numbers

    Total Assets Under Management

    $902.5 billion

    National Average: $3.3 billion
    Total Number of Employees

    1,366

    National Average: 4,943
    Total Number of Accounts

    46,658

    National Average: 2,522
    Average Account Size

    $19.3 million

    National Average: $1.3 million

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    Products and Services

    Goldman Sachs Asset Management, L.P provides a variety of financial services, which can include portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for institutional clients, pension consulting services, selection of other advisers, publication of newsletters and educational seminars. However, Goldman Sachs Asset Management, L.P did not provide any of its customers with financial planning services in the previous financial year. It is not involved in selling products or offering services other than investment advisory services to its investment advisory accounts. The company is affiliated with a number of other service providers in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, pension consultant and commodity pool advisor.

    Core Advisor Services

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      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 63% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 23% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Offered by 4% of firms

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Offered by 10% of firms

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Fees charged by financial advisors typically depend on which service is offered. However, fee types charged by the company most likely include any blend of the following fee types: asset-based, fixed, performance-based or other. Wrap fee programs, or the practice of bundling services for a single fee, are offered by Goldman Sachs Asset Management, L.P.

    Available

    • Offered by 75% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 17% of firms

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Offered by 40% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    • Offered by 12% of firms

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

    Unavailable

    • Find one of the 37% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 3% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 1% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

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    Types of Clients

    The company manages money for a number of different investors. It works with retail investors, high net worth investors, banking institutions, investment companies, business development companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, other investment advisors, insurance companies, sovereign wealth funds, corporations and other types of clients. Out of its 46,658 clients, Goldman Sachs Asset Management, L.P's biggest client type by number of accounts is high net worth investors, but it also manages money for 8,947 high-net-worth individuals. The SEC defines a high-net-worth individual as an investor who has at least $750,000 under management or a net worth of at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 5% of the company's clients are represented by people from outside of the U.S.

    • High-Net-Worth Individuals* - 54.4%
    • Other Individuals - 4.48%
    • Corporations - 38.86%
    • Charitable Organizations - 2.27%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Goldman Sachs Asset Management, L.P has disclosures.

    Please visit its Form ADV for more details.

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    This content was compiled from the SEC and FINRA