# Goldman Sachs Wealth Services, L.P.

> Goldman Sachs Wealth Services, L.P. is an SEC-registered investment advisory firm in Cohoes, NY, registered since 1994, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated June 15, 2026.

- CRD: 106693
- Filed as: GOLDMAN SACHS WEALTH SERVICES, L.P.
- Also doing business as: GOLDMAN SACHS AYCO
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Cohoes, NY
- Filing period: October 2026
- Form ADV filing dated: June 15, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106693
- AdvisorCensus page: https://advisorcensus.com/firm/goldman-sachs-wealth-services-l-p-cohoes-ny-106693

## Quick answers

**How is Goldman Sachs Wealth Services, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Goldman Sachs Wealth Services, L.P. reports these compensation arrangements: a percentage of assets under its management; hourly charges; subscription fees (for a newsletter or periodical); fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Goldman Sachs Wealth Services, L.P. located?**
Goldman Sachs Wealth Services, L.P.'s principal office is in Cohoes, NY, according to its Form ADV; the July 2026 filing also lists 23 other offices (Schedule D, Section 1.F).

**Is Goldman Sachs Wealth Services, L.P. registered with the SEC or a state?**
Goldman Sachs Wealth Services, L.P. is an SEC-registered investment advisory firm, registered since 1994. Status as filed: Approved. CRD 106693.

**How much does Goldman Sachs Wealth Services, L.P. manage?**
Goldman Sachs Wealth Services, L.P. reports $31,688,347,042 in regulatory assets under management in its Form ADV filing dated June 15, 2026 (100% discretionary).

**How have Goldman Sachs Wealth Services, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Goldman Sachs Wealth Services, L.P.: Regulatory assets under management: $15,145,814,918 in the October 2021 data and $31,688,347,042 in the October 2026 data, up 109%. Total employees: 1,343 in October 2021 and 1,923 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Goldman Sachs Wealth Services, L.P. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (76,550); high net worth individuals (38,800); other (2,235).

**Which custodians does Goldman Sachs Wealth Services, L.P. use?**
Goldman Sachs Wealth Services, L.P.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Goldman Sachs & Co. LLC (affiliated with the firm) and National Financial Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Goldman Sachs Wealth Services, L.P. report any disciplinary disclosures?**
Reports 9 disclosure items on Form ADV Item 11: yes answers to 1 question about criminal matters and 8 questions about regulatory matters (11.B(1), 11.C(2), 11.C(4), 11.C(5), 11.D(1), 11.D(2), 11.D(4), 11.D(5), 11.F). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106693

**What changed in Goldman Sachs Wealth Services, L.P.'s recent Form ADV filings?**
In the April 2026 filing data: No longer lists the business name Goldman Sachs Wealth Services, L.P.. Added the business name Goldman Sachs Ayco. Employees performing advisory functions went from 1055 to 1134. Regulatory assets under management went from $25,958,285,000 to $31,688,347,042 (+22%). Changed its office addresses in Canonsburg, PA. Changed its office addresses in Miami, FL. Changed its office addresses in Westport, CT. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Subscription fees (for a newsletter or periodical)
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- Goldman Sachs & Co. LLC (affiliated with the firm)
- National Financial Services LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $31,688,347,042
- Discretionary: $31,688,347,042
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 76,550 | $0 |
| High net worth individuals | 38,800 | $24,817,428,426 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 9 | $6,935,352 |
| Charitable organizations | 75 | $901,962,318 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 30 | $107,247,398 |
| Other | 2,235 | $5,854,773,548 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)
- Publication of periodicals or newsletters
- Educational seminars/workshops

### Firm details
- Registered since: 1994 (31 years)
- Employees: 1,923 total, 1,134 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 9 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.B(1): In the past ten years, has the firm or an advisory affiliate been convicted of, or pleaded guilty or no contest to, a misdemeanor involving investments or an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or a conspiracy to commit any of these?
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?
- 11.D(1): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.D(5): Has another federal regulator, a state regulator, or a foreign financial regulator ever denied, suspended, or revoked the registration or license of the firm or an advisory affiliate, prevented either by order from associating with an investment-related business, or restricted either one's activity?
- 11.F: Has an authorization to act as an attorney, accountant, or federal contractor granted to the firm or an advisory affiliate ever been revoked or suspended?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106693

### Other offices (Schedule D, Section 1.F), as of the July 2026 filing
- Atlanta, GA
- Austin, TX
- Boston, MA
- Canonsburg, PA
- Chicago, IL
- Dallas, TX
- Deerfield, IL
- Denver, CO
- Houston, TX
- Irving, TX
- Miami, FL
- Minneapolis, MN
- Morristown, NJ
- New York, NY
- Newport Beach, CA
- Philadelphia, PA
- San Francisco, CA
- Saratoga Springs, NY
- Seattle, WA
- Troy, MI
- Washington, DC
- West Palm Beach, FL
- Westport, CT

### Websites listed on Form ADV (Item 1.I)
- [goldmansachs.com/what-we-do/ayco](https://goldmansachs.com/what-we-do/ayco)
- LinkedIn @goldman-sachs-ayco

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $15,145,814,918 | 1,343 | August 27, 2021 |
| October 2022 | $31,818,678,575 | 1,784 | June 17, 2022 |
| October 2023 | $28,618,921,599 | 1,774 | September 21, 2023 |
| October 2024 | $25,870,062,000 | 1,792 | September 30, 2024 |
| October 2025 | $25,958,285,000 | 1,809 | July 1, 2025 |
| October 2026 | $31,688,347,042 | 1,923 | June 15, 2026 |

Regulatory assets under management: $15,145,814,918 in the October 2021 data and $31,688,347,042 in the October 2026 data, up 109%.
Total employees: 1,343 in October 2021 and 1,923 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- No longer lists the business name Goldman Sachs Wealth Services, L.P..
- Added the business name Goldman Sachs Ayco.
- Employees performing advisory functions went from 1055 to 1134.
- Regulatory assets under management went from $25,958,285,000 to $31,688,347,042 (+22%).
- Changed its office addresses in Canonsburg, PA.
- Changed its office addresses in Miami, FL.
- Changed its office addresses in Westport, CT.
- Updated its list of owners and control persons (Schedule A).

### March 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Goldman Sachs Wealth Services, L.P. (CRD 106693): Form ADV filing data as of October 2026.