This collaboration will help RIAs provide a comprehensive portfolio solution that can be customised for individual investors at scale. Credit: LALAKA/Shutterstock.

Goldman Sachs Asset Management and fintech provider GeoWealth have partnered to help registered investment advisors (RIAs) meet the unique requirements of high net worth (HNW) clients more effectively.

This collaboration aims to empower RIAs with the ability to provide a comprehensive portfolio solution that can be customised for individual investors at scale.

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The partnership will utilise GeoWealth’s unified managed account (UMA) platform to implement this solution in single accounts.

Goldman Sachs Asset Management will work closely with GeoWealth, RIAs, and their chief investment officers to create open-architecture custom models that embody the RIAs’ investment perspectives and choices.

These custom models will be developed using a variety of investment vehicles including Separately Managed Accounts (SMAs), Exchange-Traded Funds (ETFs), direct indexing, mutual funds, and alternative investments.

They will be tailored by RIAs to align with each investor’s unique tax considerations, preferences, and financial objectives.

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Goldman Sachs Asset Management third party wealth global head Padideh Raphael said: “GeoWealth’s technology solution will unlock valuable time for RIAs to focus on their existing clients’ planning needs and to attract new clients.

Currently, RIAs on GeoWealth’s platform have access to flagship model portfolios from Goldman Sachs Asset Management’s Multi Asset Solutions (MAS) team, which include mutual funds and ETFs.

GeoWealth CEO Colin Falls said: “We are excited to bring the institutional investment capabilities of Goldman Sachs Asset Management to our client base as we enter our next phase of growth.

“Our flexible, innovative UMA technology lets advisors create their own models and combine them with multiple managers in a single account. This advanced ‘sleeving’ capability makes capitalising on the flexibility of UMAs more efficient by streamlining operational complexity and enhancing peace of mind.”

Goldman Sachs plans to collaborate with GeoWealth to develop additional custom model portfolios that will incorporate mutual funds, ETFs, alternative investments, SMAs, direct indexing, and fixed income options.

Last year, GeoWealth acquired US-based First Ascent Asset Management.