Goldman Sachs RIA Custody Gains Traction on Name Recognition and UHNW Focus

Industry
โดย WealthManagement·Read original
Summary · why it matters

Goldman Sachs is gaining traction as a custodian for registered investment advisors, particularly those serving ultra-high-net-worth clients, as its brand name and bundled capabilities attract breakaway teams. Nate Lenz, CEO of Concurrent, said adding Goldman as a custody option in late 2024 has helped fuel a recruiting push that more than doubled the firm's assets under management to $21 billion, though Fidelity remains the largest custodian among its over 90 partner firms. Bill Keaton of Keaton & Sams Wealth Management, a $1.3 billion firm that joined Concurrent in October 2025, said the team led client conversations with the fact that Goldman would hold their assets, leveraging the brand's high-end reputation. Goldman has been added as a custody option by larger aggregators including Dynasty Financial Partners, NewEdge Capital Group, and Steward Partners, and by full consolidator RIAs such as Creative Planning, Prime Capital, and Perigon. While Charles Schwab still dominates the RIA custody space with over 55% market share among RIAs established since 2020, Goldman's share stands at 2.8%, though its bundling of banking, asset management, and alternatives access resonates with breakaways, according to consultant Mark Tibergien.

Impact on stocks 3

Digital Finance & Tokenization▼ · 2 stocks
Charles Schwab Corp
SCHW
▼ NegativeCompetitionrelevance

Goldman Sachs gains traction as RIA custodian, eroding Schwab's dominant market share.

Financials▲ · 1 stocks
Goldman Sachs Group Inc
GS
▲ PositiveDemandrelevance

Goldman Sachs is gaining traction as a custodian for RIAs, attracting breakaway teams and growing assets under management, indicating increased demand for its custody services.

Off-coverage companies 8

ConcurrentPrivate± Mixed
relevance

Creative PlanningPrivate± Mixed
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Dynasty Financial PartnersPrivate± Mixed
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Keaton & Sams Wealth ManagementPrivate± Mixed
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NewEdge Capital GroupPrivate± Mixed
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Perigon Wealth ManagementPrivate± Mixed
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Prime Capital AGPrivate± Mixed
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Steward PartnersPrivate± Mixed
relevance

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