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 an advisory firm that has its headquarters in New York, New York. It has $1.2 trillion in assets across 74,398 accounts, placing it among the biggest financial advisory firms in the nation by assets under management (AUM). The firm has a very large team of 1,248 employees, including 919 financial advisors. Goldman Sachs Asset Management, L.P is not a registered broker-dealer, meaning the advisor cannot buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer company to do so. Securities are defined as tradable financial investments such as bonds, stocks and options.

    Goldman Sachs Asset Management, L.P manages more than half of the company's client assets in a discretionary manner. Discretionary management signifies that transaction judgments for the client's account are made by an investment advisor without requiring client permission. The company also has 15,918 non-discretionary accounts totaling $30.6 billion in AUM. The firm's average account size is $15.6 million. The typical advisor at Goldman Sachs Asset Management, L.P oversees around 81 client accounts.

    Goldman Sachs Asset Management, L.P's central office is at 200 West Street, New York, New York 10282. The firm is permitted to serve customers across 50 U.S. states and territories.

    Assets Under Management

    $1.2 trillion

    Number of Advisors

    919

    Disclosures

    No

    Office Location

    200 West Street
    New York, NY 10282

    Goldman Sachs Asset Management, L.P by the Numbers

    Total Assets Under Management

    $1.2 trillion

    National Average: $3.7 billion
    Total Number of Employees

    1,248

    National Average: 29
    Total Number of Accounts

    74,398

    National Average: 2,073
    Average Account Size

    $15.6 million

    National Average: $1.8 million

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    Products and Services

    Goldman Sachs Asset Management, L.P provides a number of financial services, which can consist of 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 and educational seminars. Notably, Goldman Sachs Asset Management, L.P did not provide financial planning services to any of its accounts in the previous financial year. It does not sell products or offer services aside from investment advisory services to its investment advisory accounts. Goldman Sachs Asset Management, L.P is affiliated with one or more 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 62% 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.

    • Find a firm that offers this service

      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

    Financial management fees typically depend on which services the firm provides the client. Fees billed by the company most likely include any blend of the following fee types: asset-based, fixed, performance-based or other. The company participates in a wrap fee program, in which the company offers a bundle of services for a single fee.

    Available

    • Offered by 74% 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 35% 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 2% 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 broad range of customers. The firm caters to 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 advisers, insurance companies, sovereign wealth funds, corporations and other. Out of its 74,398 accounts, Goldman Sachs Asset Management, L.P's largest client is high net worth investors, but it also manages money for 14,837 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 under management or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 5% of the company's customers are from outside of the U.S.

    • High-Net-Worth Individuals* - 63.82%
    • Other Individuals - 4.79%
    • Corporations - 29.25%
    • Charitable Organizations - 2.14%

    * 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 does not have any disclosures.

    Please visit its Form ADV for more details.

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    This content was compiled from the SEC and FINRA

    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.