Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right
Tap on the profile icon to edit
your financial details.

The Ayco Company Review

Your Details Done
by Updated

This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

The Ayco Company, L.P.

Since 2003, The Ayco Company, L.P. has been a part of The Goldman Sachs Group, a publicly traded investment and financial holding company. Ayco is headquartered in Cohoes, New York, though its advisory services are also available through offices of affiliate Goldman Sachs & Co. LLC.

Ayco manages assets for non-high-net-worth and high-net-worth individuals, as well as pension and profit sharing plans, charitable organizations and corporations. The firm offers employer-sponsored financial counseling, investment management and family office services. Most of its advisors are also broker-dealer representatives and many are insurance agents, too.

The Ayco Company Background

The Ayco Company’s unusual name comes from combining the first two letters of the surnames of its founders, Bill Aydelotte and Jim Conway. Formed in 1971, the company originally offered corporate-sponsored financial counseling to executives, but it expanded to all employees a decade later. As mentioned earlier, Goldman Sachs became the primary owner of the firm in 2003.

The Ayco Company Client Types and Minimum Account Sizes

The Ayco Company doesn't impose an account minimum for clients who receive discretionary management. However, the wrap fee program the firm sponsors requires a minimum investment of $100,000 while family office services also require a minimum investment. Financial counseling clients are not required to open an investment account.

The firm’s institutional clients include endowments, public charities, private foundations and other nonprofit organizations through Ayco Institutional Client Solutions, or Ayco ICS. For these clients, there is a $2 million investment minimum.

Services Offered by The Ayco Company

The Ayco Company started as a provider of executive financial counseling, and that remains its primary business today. These services include coaching (typically provided as an employee benefit), planning (primarily delivered over the phone or on the web), counseling (typically provided to executives and high-net-worth individuals either directly or through a corporate partner), family office and Ayco Personal Advisor Service (APAS), which calls for $250,000 in investable assets.

Ayco also offers discretionary investment advisory and management services. These services are provided by one or more of investment professionals, portfolio management teams or the Ayco Trust Advisory Service (ATAS) investment committee. Accounts can be held either on the Fidelity platform or Ayco’s affiliate Goldman Sachs platform. Ayco may also recommend unaffiliated third-party money managers. Additionally, Ayco sponsors - but does not manage - a wrap fee program on the Fidelity platform, called Ayco Private Access Account Strategies.

The Ayco Company Investing Philosophy

Investing strategies at The Ayco Company depend on the investing professional. Generally, the ATAS investment committee may use strategic and tactical asset allocation models or securities recommendations from the Goldman Sachs Private Wealth Management Investment Strategy Group. However, other strategies and portfolio plans may be used.

Portfolio management teams at Ayco utilize various strategies that invest in specific asset classes. For example, these can include taxable fixed-income, municipal fixed-income, equities, mutual funds and exchange-traded funds (ETFs).

Fees Under The Ayco Company

For financial planning, the individual fee (as opposed to the corporate fee) ranges between $1,000 and $100,000, depending on the type of services provided (coaching, planning, etc.) There may be a 15% surcharge for services provided by Ayco’s West Coast office. For family office services, there may be a minimum annual fee of $100,000 for new clients and a one-time integration fee that can be anywhere from $10,000 to $25,000. For financial planning on an hourly basis, the rate ranges from $280 to $600 per hour.

For investment management services, the fee depends on the platform and strategy or manager. But generally, the fee is a percentage of client assets under management (AUM) and ranges from 0.18% to 1.65% on the Fidelity or Goldman Sachs platform. In addition to strategy-based investment advisory fees, clients pay execution charges, custody and administrative costs and underlying fund fees (if invested in mutual funds or ETFs).

What to Watch Out For

In its most recent SEC filings, The Ayco Company reported 19 disclosures.

Because many Ayco advisors are also broker-dealer representatives and/or insurance agents, they may earn sales commissions on certain transactions. While this creates a potential conflict of interest the firm must always act in your best interests. 

Opening an Account with The Ayco Company

To become a client of The Ayco Company, try calling (518) 886-4000. You can also stop by the firm's Cohoes, New York, headquarters or one of its office locations in:

  • Atlanta, GA
  • Canonsburg, PA
  • Benwood, TN
  • Newport Beach, CA
  • Philadelphia, PA
  • Dallas, TX
  • Houston, TX
  • Deerfield, IL
  • Chicago, IL
  • Boston, MA
  • San Francisco, CA
  • Washington, D.C.
  • West Palm Beach, FL
  • New York, NY
  • Minneapolis, MN
  • Parsippany, NJ
  • Troy, MI
  • Seattle, WA

All information is accurate as of the writing of this article. 

Tips for Finding a Financial Advisor 

  • Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • Ask candidates what they sell besides advice. Ideally, advisors only sell advice - and they collect their fee-only compensation from clients. But some advisors also sell insurance or financial products - and receive commissions from vendors on top of client fees. This creates a conflict of interest that they should disclose when recommending products that pay them commissions.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research