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 advisor firm headquartered in New York, New York. The firm administers $902.5 billion in assets across 46,658 customer accounts, making it one of the biggest investment advisory firms in the United States by assets under management (AUM). The firm has a very large team 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, meaning the advisor cannot buy and sell securities for its accounts and those of its clients and instead has to go through a broker-dealer company to do so. Securities are defined as tradable financial assets such as stocks, bonds and options.

    Goldman Sachs Asset Management, L.P administers more than half of its accounts on a discretionary basis. Discretionary management is a structure in which buy and sell judgments are made by a portfolio manager without requiring client authorization. Goldman Sachs Asset Management, L.P also administers 15,798 non-discretionary accounts totaling $27.9 billion in assets under management. The advisory firm's typical account size is $19.3 million. An average advisor at Goldman Sachs Asset Management, L.P manages about 52 client accounts, placing it towards the middle in terms of personalization.

    The company's main office is at 200 West Street, New York, New York 10282. The company is legally allowed to serve investors across 50 U.S. states and territories.

    Assets Under Management

    $902.5 billion

    Number of Advisors

    896

    Disclosures

    No

    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: 31
    Total Number of Accounts

    46,658

    National Average: 1,935
    Average Account Size

    $19.3 million

    National Average: $1.7 million

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    Products and Services

    Goldman Sachs Asset Management, L.P offers 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 financial planning services to any of its accounts in the previous fiscal year. The company does not sell products or offer services apart from investment advice to its investment advisory customers. The firm is also 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 61% 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 largely are based on which services the firm provides the client. However, fee types billed by the firm likely consist 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 provided by the company.

    Available

    • Offered by 72% 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 39% 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 works with a number of different clients. The company 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 advisers, insurance companies, sovereign wealth funds, corporations and other. Out of its 46,658 clients, Goldman Sachs Asset Management, L.P's biggest client group by number of accounts is high net worth investors, though it also caters to 8,947 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 at least $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 accounts are represented by non-U.S. persons.

    • 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 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