Goldman Sachs Gains 2.8% RIA Custody Share as UHNW Advisors Leverage Its Brand
Updated
Updated · Wealth Management · Jul 7
Goldman Sachs Gains 2.8% RIA Custody Share as UHNW Advisors Leverage Its Brand
2 articles · Updated · Wealth Management · Jul 7
Summary
Goldman Sachs is winning incremental RIA custody business by helping breakaway advisors reassure ultra-high-net-worth clients with a familiar institutional name, according to advisors and consultants.
Concurrent added Goldman in late 2024 as a custody option for recruiting, and its assets have since more than doubled to $21 billion; Keaton & Sams, a $1.3 billion team that joined in 2025, said it led client conversations with Goldman holding assets.
That appeal extends beyond branding: Dynasty said advisors also want Goldman’s research, trading, lending, derivatives, structured products and asset-management access tied to custody, while Goldman is adding long-short equity SMA offerings later this summer.
Goldman remains a small player despite those gains. AdvizorPro data show Schwab still dominates RIA custody, used by more than 55% of RIAs launched since 2020, versus 2.8% for Goldman.
Advisors said Goldman’s technology still trails some incumbents, but users reported the firm has been responsive as it pushes deeper into the fast-growing independent advice market.