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Goldman Sachs Wealth Management Review Highlights
• Goldman Sachs offers both
investment-advisory and brokerage accounts.
• A
Private Wealth Management program is available at Goldman Sachs for the ultra-wealthy.
• Financial planning is one of Goldman Sachs’ areas of expertise.
Overview of Goldman Sachs
A wide range of financial services is available at Goldman Sachs, although steep minimums and high fees in some cases will leave some people out in the cold.
Investing
Goldman Sachs offers both managed and brokerage accounts to clients around the world. In the United States, the company’s advisory accounts are available in discretionary and non-discretionary modes. The company’s robo program, Marcus Invest, has been shut down, and its customer accounts were transferred to Betterment.
With the end of the automated service, investing accounts at Goldman Sachs are now primarily full-service. This means most investment relationships need to be opened through a financial advisor, and this expert can provide a lot of guidance and hand-holding. The downside is that the company doesn't have a large retail branch network like some mass-market brokerage firms.
The top tier in Goldman’s investing service is its
Private Wealth Management division. It is designed for both retail investors and institutions. The highest level of service from Goldman will be found here.
For actual investments, Goldman Sachs offers the standard range of securities, such as stocks, bonds, and funds. Its Private Wealth Management division also offers alternative investments, including private real estate and hedge funds. Not all investments are available in all programs.
To help its clients save as much money as possible on taxes, Goldman Sachs offers many tax-focused account and planning tools, including custodial accounts, education accounts, retirement accounts, and more.
Financial Planning
Because Goldman Sachs is a full-service investment firm, it does have a noticeable emphasis on financial planning. The highest level of this program will be found in the company’s Wealth Management division, although financial planning may also be available through Goldman Sachs Ayco and other Goldman Sachs Wealth Services relationships. Examples of services that can be obtained include:
- Estate planning
- Trust creation
- Wealth preservation and transfer
- Charitable giving
- Tax-efficient investing
- Risk management
- Hedging
- Legacy planning
- Family office solutions
- Foundation and endowment services
- Retirement planning
- And a lot more
Banking
Through its subsidiary Goldman Sachs Bank USA, Goldman offers online savings accounts and CD accounts under the Marcus brand. The savings account currently pays
3.50% APY and has some useful features, including no fees, no minimum deposit, and same-day transfers of $100,000 or less to and from other banks. The major downside is that debit cards and checking accounts are missing in action. Some Marcus CD accounts currently pay up to
4.00% APY. FDIC insurance is standard fare on deposits.
Goldman Sachs’ consumer credit-card business has changed. The GM Rewards Mastercard is now issued by
Barclays, not Goldman Sachs.
Fees and Minimums
To start a Private Wealth Management relationship with Goldman Sachs, clients generally need at least
$10 million in investable assets. Some programs, products, and private-market investments have their own minimums, and certain specialized investments may require higher minimums. Brokerage accounts themselves may not have the same minimums, although the overall relationship minimum still applies.
The cost of advisory accounts varies by program, account value, investment strategy, and service model. Some advisory relationships use a comprehensive advisory fee, while others use a strategy-based fee model. Some investment programs also have minimum annual fees. Actual pricing should be reviewed in the current Goldman Sachs advisory disclosures and account agreement.
Brokerage accounts are priced on a per-trade basis, and commissions can be steep because Goldman is a full-service firm. This is not a low-cost online brokerage designed for commission-free active trading.
Connect with a Local Financial Professional
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match with up to three pre-screened advisors via WiserAdvisor.
Margin
Goldman Sachs provides margin trading in some of its investment accounts, and short positions are permitted in some accounts. The exact rates for margin services will be disclosed by the investment advisor representative. There is also a securities-based lending program that can be used to withdraw cash from an account using the securities as collateral. There are no loan fees for this revolving line of credit, and the principal can be repaid at any time. Margin interest is due monthly.
Software
Goldman Sachs and Marcus both have mobile apps and websites for account management. Marcus is now focused on banking products, while Goldman Sachs offers digital access for wealth-management and investment clients. The apps function on Android and Apple devices and provide user-friendly tools to manage accounts. The Goldman website is available in many languages, including English, Chinese, and Italian. It does have a great deal of educational material on it, including macroeconomic news. A separate site for the company’s asset-management division includes lots of details on mutual funds from Goldman and even more information on market action.
Miscellaneous Services
Fully-Paid Securities Lending Program: Goldman Sachs operates something called Goldman Sachs Agency Lending that allows institutional clients to earn money by loaning out their stock shares. Not all accounts are eligible for the service, however.
Individual Retirement Accounts: IRAs may be available through Goldman Sachs investment relationships, but Marcus itself is now focused on deposit products rather than investment accounts.
Initial Public Offerings: Goldman Sachs has a very famous investment banking operation, so IPO access may be available to eligible clients.
Recommendations
Retirement Saving & Long-Term Investing: A one-on-one working relationship with a Goldman
Sachs advisor is a good way to plan for the future.
Frequent Stock Trading: Due to stock commissions and lack of advanced trading tools, Goldman
Sachs is not a good firm to actively trade stocks. Interactive Brokers would be a better choice.
Small Accounts: Fidelity would be a better idea.
Beginners: Investors with no clue what to do will be in good hands with Goldman Sachs only if they meet the firm’s high relationship minimums.
Mutual Funds: A wide range of mutual funds can be had at Goldman Sachs, including funds from
Goldman Sachs itself and other fund families. Investors should pay close attention to fund expenses
and do some comparison shopping.
Goldman Sachs Wealth Management Review Verdict
Goldman Sachs has a very thorough investment program that ultra-high-net-worth folks can really benefit from. Everyone else can probably find better deals elsewhere.
Updated on 5/27/2026.
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