Goldman Sachs banking on David Solomon to be a catalyst for more RIA-ifcation, getting hip with millennials, diversifying firm… and keeping bankers happy
Louis Diamond Quoted
By Oisin Breen
After a number of years damning wealth management with faint praise and token efforts toward more “digital” and more millennial-friendly forms of asset and wealth management, Goldman Sachs & Co. may have just made its biggest move yet toward RIA-ification.
“I like the term ‘RIA-ification’ of Goldman, and I think their actions are definitely leading in that direction,” says Louis Diamond, principal of NYC wealth management recruitment firm Diamond Consultants. “They’ve shown they want to open up. It seems like Solomon’s cut from a different cloth than other CEOs. His interests are more aligned with millennials.”