Goldman Sachs Supervised $2.1 Trillion in Wealth Management Assets Last Quarter. It's a New Record. -- Barrons.com

By Kenneth Corbin

Goldman Sachs on Tuesday reported several new records for its asset and wealth management business in the third quarter. It posted record client assets of $4.1 trillion and net revenue of nearly $5.1 billion, up 14% from the same period in 2025. The wealth management segment of that business ended the quarter with a record $2.1 trillion in assets under supervision.

The asset and wealth management division posted net earnings of just over $1 billion, a 14% increase from a year ago and up 18% from the second quarter.

Goldman collected nearly $3.6 billion in management and other fees in the quarter, up 22% from the third quarter a year ago, an increase largely attributed to rising client balances. Wealth management accounted for just over $2 billion of that total, with the remainder coming from asset management fees.

The asset and wealth management results came amid a strong quarter overall for the Wall Street giant. Goldman reported third-quarter earnings per share of $17.01, blowing past analysts' forecast of $12.86, while net revenue checked in at $18.68 billion, topping the consensus forecast of $16.83 billion.

The stock was trading around $896, a 1.5% gain, as of midday Tuesday. It is up 2% year to date compared with nearly 14% for the S&P 500.

Goldman's asset and wealth management business saw long-term net asset inflows of $97 billion in the quarter, $47 billion of which was generated by the wealth management segment. Goldman has set a goal of 5% annual growth in wealth management inflows. Goldman says that it has been exceeding that target.

Goldman's retail wealth management business, which caters to ultrahigh-net-worth clients, "continues to be a big area of strategic focus for the firm that is performing very well," a spokeswoman says. Goldman's training class this year for private wealth advisors was more than 120, its largest ever, according to the company.

Alternative assets account for a growing share of Goldman clients' balances. The firm ended the quarter with a record $491 billion in alternative assets under supervision, up 26% from the year-earlier period. Goldman collected $860 million in fees from those assets in the quarter, up 43% from a year ago.

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(END) Dow Jones Newswires

October 13, 2026 13:32 ET (17:32 GMT)