Elevation Point and Goldman Sachs Forge Strategic Partnership
The collaboration between Elevation Point and Goldman Sachs spans various financial services including custody, asset management, lending, trading, and capital markets. This partnership is designed to equip Elevation Point with specialized solutions tailored to meet the intricate needs of their elite partner teams and their sophisticated clients.
Strengthening Financial Offerings
Elevation Point, a growth accelerator and minority stake partner for independent advisors, has announced its strategic collaboration with Goldman Sachs. This alliance aims to grant Elevation Point's partner firms access to comprehensive banking, lending, trading, asset management, and capital markets capabilities provided by Goldman Sachs. It also enhances an existing agreement with Goldman Sachs Custody Solutions (GSCS), now set to act as a primary custodian for Elevation Point.
Empowering Independent Advisors
The innovative model of Elevation Point's minority stake partnerships allows entrepreneurial advisors to maintain their independence while benefiting from essential capital, strategic guidance, and significant growth resources. By collaborating with Goldman Sachs, Elevation Point is amplifying its service suite tailored for advisors who navigate sophisticated client demands. Under this agreement, Goldman Sachs will also provide direct indexing and open-architecture custom investment models, enrich the offerings of fixed income SMAs, and supply custody services, ensuring that clients receive well-rounded solutions.
Leadership Insights and Vision
Jim Dickson, the Founding Partner and CEO of Elevation Point, shared, "From day one, our mission has been to support top independent advisors and build a strategic ecosystem that empowers their services with freedom, flexibility, and scale." He emphasized that Goldman Sachs' esteemed capabilities and profound understanding of the wealth marketplace considerably bolster Elevation Point's capacity to tailor solutions, addressing the complex hurdles faced by advisory teams today.
Expanding Comprehensive Investment Solutions
This collaboration will extend Elevation Point's array of open-architecture investment solutions, customizable for RIA teams. Additionally, it will augment and diversify its offerings within family office solutions and streamline processes for integrating high-performing advisory teams into Elevation Point's framework, strategically positioning the firm for accelerated growth in the competitive marketplace.
Expert Commentary on Partnership Benefits
Mark Penske, Founding Partner and Chairman of the Board at Elevation Point, remarked, "Goldman Sachs brings unparalleled institutional expertise across key areas, empowering our firms with industry-leading resources required for growth and excellence." This partnership highlights the synergies developed through the expertise of both firms, enabling independent advisors to refine their investment capabilities further.
Commitment to Unique Solutions
Goldman Sachs' Jeremy Eisenstein, Head of RIA Custody, Global Banking & Markets, praised Elevation Point for being such an innovative firm in the RIA industry. Together, they have committed to investing in resources and facilities that will provide a differentiated custody solution tailored for independent advisors, complete with an efficient onboarding process.
A Focus on Independent Advisors' Needs
Greg Wilson, Co-Head of US Third Party Wealth at Goldman Sachs Asset Management, highlighted his firm’s dedication to serving independent fiduciaries focused on enhancing investment outcomes for their clients. He expressed his excitement about the partnership with Elevation Point, emphasizing that they aim to provide distinctive solutions catered to the rapidly growing segment of wealth management.
About Elevation Point
Elevation Point is determined to unite industry-leading independent advisors by means of minority stake partnerships with RIAs and advisors transitioning to independence. As accelerators in a market filled with aggregators, they empower advisors to maintain control over their paths, offering critical support along the way. Their goal is straightforward: to elevate the financial advisory industry.
About Goldman Sachs Custody Solutions
Goldman Sachs Custody Solutions (GSCS) provides essential custody, clearing, and brokerage services to clients of Elevation Point. It’s important to note that GSCS operates as a separate entity and does not endorse Elevation Point’s investment advisory services, showcasing the necessity for clients to evaluate all pertinent factors when selecting a custodian.
About Goldman Sachs Asset Management
Goldman Sachs Asset Management is a vital investing segment within Goldman Sachs (NYSE: GS), focused on providing outstanding investment and advisory services across both public and private markets for leading institutions, financial advisors, and individuals. Their strategy is rooted in partnership and shared success with clients, aiming for long-term investment performance drawn from a global network and extensive expertise across various industries and markets.
Frequently Asked Questions
What is the main goal of the collaboration between Elevation Point and Goldman Sachs?
The goal is to provide Elevation Point's partner firms with access to Goldman Sachs' extensive banking and investment services, enhancing tailored solutions for independent advisors.
How will this partnership benefit independent advisors?
This collaboration empowers independent advisors by offering them improved resources, investment solutions, and strategic support essential for their growth.
What specific services will Goldman Sachs provide to Elevation Point?
Goldman Sachs will offer lending, asset management, trading, and customized investment models, helping Elevation Point meet diverse client needs.
What does Elevation Point stand for in the wealth management industry?
Elevation Point is a firm focused on empowering independent advisors through partnership models that allow them to retain control while gaining key resources.
Can clients expect innovative solutions from this partnership?
Yes, the collaboration aims to deliver unique, customized solutions that cater to the changing requirements of clients within the wealth management space.
