FYI: (This is a follow-up article.)
Goldman Sachs dipped a toe into the world of exchange-traded funds four years ago when it launched its first ETFs. Now it is diving all the way in, with a deal announced last Monday for its asset-management arm to buy Standard & Poor’s Investment Advisory Services, or SPIAS, a creator of model portfolios, which hold ETFs and mutual funds, and that are increasingly used by financial advisors.
The SPIAS business offers yet another product line for Goldman Sachs’ (ticker: GS) and other advisors to use in managing client money—one that could offer significant growth. Today $360 billion are tied to model portfolios industrywide. Michael Crinieri, Goldman’s head of ETF strategy, says, “The market could double in the next three years.”
Regards,
Ted
https://www.barrons.com/articles/goldman-sachs-etf-51553272477
