Goldman Sachs Lands Flagship RIA, Steward Partners, for Custody Unit

June 19, 2021

Goldman Sachs signed a deal to provide custody services for $23 billion-asset advisory firm Steward Partners, marking the first major independent RIA client for Goldman’s nascent custody business. A Goldman executive says that the firm is not just “dipping our toe into this market,” but that it is wholly committed to the independent RIA channel, potentially setting it up to compete with Schwab and Fidelity, the heavyweights in that space.

In other wealth management news this week: