Goldman Sachs Wealth Services is a fee-based advisory firm that has been part of The Goldman Sachs Group since 2003. The firm is headquartered in Cohoes, New York, though its advisory services are also available through offices of its affiliate, Goldman Sachs & Co. LLC.
The firm 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.
Goldman Sachs Wealth Services Background
The Ayco Company was founded in 1971 by William "Bill" Aydelotte to provide employer-sponsored financial counseling, initially focused on corporate executives and later expanded to a broader employee base. Goldman Sachs acquired Ayco in 2003, integrating it into its wealth management offerings. The firm may still be referred to as Goldman Sachs Ayco within Goldman Sachs' broader workplace and wealth services platform. However, in 2025, the firm officially changed its name from The Ayco Company, L.P. to Goldman Sachs Wealth Services.
Goldman Sachs Wealth Services Client Types and Minimum Account Sizes
Goldman Sachs Wealth Services 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 the firm’s Personal Wealth offering typically requires that clients at $1 million. The Personal Wealth service combines individualized financial planning and investment management services.
The firm primarily serves high-net-worth individuals, but also makes services available to private corporations, partnerships and limited liability companies, as well as trusts, estates and charities.
Services Offered by Goldman Sachs Wealth Services
Goldman Sachs Wealth Services provides a broad range of financial planning, investment management, and related advisory services to individuals, families and institutional clients. Its financial planning services include personalized advice on areas such as retirement, cash flow, taxes, estate planning, insurance, and philanthropy. The firm also offers specialized programs like Executive Wealth, Private Family Office and Financial Wellness, along with tax preparation, education and support services.
In addition to planning, the firm delivers comprehensive investment management services, helping clients design portfolios aligned with their goals, risk tolerance and preferences. This includes asset allocation, portfolio construction and ongoing management across a range of investments such as equities, fixed income, mutual funds, ETFs and private investments.
The firm may also provide access to third-party managers, insurance solutions, lending services, and brokerage capabilities, as well as referrals to affiliated and external providers for specialized needs.
Goldman Sachs Wealth Services Investing Philosophy
Goldman Sachs Wealth Services employs a client-centered, research-driven investment philosophy that emphasizes tailored asset allocation and diversification. The advisors use strategic and tactical models created by Goldman Sachs’ Investment Strategy Group (ISG) to build client portfolios. The firm's investment strategies include structured investment products, equities, fixed-income securities and alternatives like options and private equity.
Additionally, the firm integrates environmental, social and governance (ESG) factors where relevant. Portfolios are monitored and periodically rebalanced to align with clients' risk profiles and objectives, aiming to achieve growth, income, and capital preservation across diverse market environments.
Fees Under Goldman Sachs Wealth Services
Goldman Sachs charges fees for financial planning services that vary depending on the client’s needs and arrangements with Corporate Partners. Generally, the firm's annual financial planning fees for individual clients range from $2,500 to $100,000, with adjustments for regional factors or specific office locations. Clients affiliated with Corporate Partners may receive discounted or waived fees, depending on corporate agreements. Additionally, Goldman Sachs Wealth Services offers hourly rates for financial planning, typically between $280 and $600. For specialized Private Family Office services, the firm charges a minimum annual fee of $125,000, plus any setup fees for customized services.
Goldman Sachs Wealth Services generally charges investment management fees as a percentage of assets under management, with the specific rate determined by the investment strategy chosen. Clients enrolled in wrap fee programs pay a single asset-based fee that typically includes advisory, brokerage and administrative costs, with rates varying based on the specific program and services selected.
What to Watch Out For
In its most recent SEC filings, Goldman Sachs Wealth Services, L.P. reported 18 disclosures.
Because many of the firm's 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 Goldman Sachs Wealth Services
To become a client of Goldman Sachs Wealth Services, try calling (518) 886-4000 or visit the firm's website and click the Contact Us option.
All information is accurate as of the writing of this article.
Tips for Finding a Financial Advisor
- A financial advisor can help you select and manage investments for your portfolio. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with 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.
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