(Silver)man Sachs

Goldman Sachs is selling off their "new" wealth management unit. What are your thoughts? Is this a downgrade?

The financial landscape is changing, and Goldman Sachs is making waves by deciding to sell a part of its “new” wealth management business. This news draws parallels with the world of architecture and design, where adjustments to building plans can often be the result of a “dream” design simply not making financial sense.

Goldman Sachs is often referred to as GS. And they’re rethinking their approach to wealth management. Past leadership at GS wanted to focus on catering to a wide range of clients. Their most “popular” move was Marcus -a banking & savings platform. Things didn’t work out.