Creative Planning, the Overland Park, Kan.-based registered investment advisor run by CEO Peter Mallouk, closed on its acquisition of Goldman Sachs’ Personal Financial Management unit Friday morning. The terms of the deal were not disclosed. Mallouk said he will revive the United Capital name, and the business will operate as a wholly-owned, independent entity of…
Tag: Goldman
Goldman reports lackluster wealth management results
Despite having a record haul from management fees in the third quarter, Goldman Sachs’ Asset and Wealth Management division saw a 20% decline in its net revenues. That plummet was primarily due to losses in both public and private equity investments, much of the latter in real estate. With its 20% year-over-year drop, Goldman’s net…