Goldman Sachs Wealth Management Advisers Leave for Rival Banks

The video discusses the trend of wealth teams leaving major banks like Goldman Sachs, UBS, and Morgan Stanley to become independent advisors. Goldman faces a challenge as it aims to increase its advisor count by 30%, conflicting with its recent record revenue in consumer and wealth segments. The issue is not unique to Goldman, as the entire industry is experiencing similar trends. A comparison is made between Morgan Stanley's and Goldman's wealth management assets, highlighting the significance of a $10 billion shift. Despite the talent loss, this is not seen as a direct criticism of Goldman's leadership, as the trend is industry-wide.

What is a significant trend among wealth advisors in major banks?

• They are switching to different industries.

• They are retiring early.

• They are moving to smaller banks.

• They are seeking to become independent.

What is Goldman's target for increasing their advisor count?

• By 40%

• By 30%

• By 10%

• By 20%

What recent achievement did Goldman report in their consumer and wealth segments?

• Record revenue

• A merger with another bank

• A decrease in revenue

• A loss in assets

How does Morgan Stanley's wealth management assets compare to Goldman's?

• They are about the same.

• Goldman has significantly more.

• Morgan Stanley has less than Goldman.

• Morgan Stanley has significantly more.

What is the broader context of the issues faced by Goldman Sachs?

• It is unique to Goldman.

• It is an industry-wide trend.

• It is due to poor management.

• It is a temporary issue.