Explore how we can help youWork with us
Ayco Personal Financial Management (“Ayco Personal Financial Management” or “Ayco”), is a registered investment adviser and an affiliate of Goldman Sachs & Co. LLC (“GS&Co.”) and subsidiary of The Goldman Sachs Group, Inc., a worldwide, full-service investment banking, broker-dealer, asset management, and financial services organization. Brokerage services are offered through GS&Co. and Mercer Allied Company, L.P. (a limited purpose broker-dealer), both affiliates of Ayco and members FINRA/SIPC.
Intended Audience: This material is intended solely for clients of Ayco and/or prospective clients who would meet the eligibility requirements to be clients of Ayco. If you have any questions on whether this material is intended for you, please contact us. Ayco takes into consideration client suitability, eligibility, and sophistication when distributing marketing materials and not all marketing materials are appropriate for all Ayco clients/or prospective clients. Distribution of this material is premised on the reasonable belief that the recipient has sufficient financial expertise and/or access to resources to independently analyze the information presented. If you do not believe you meet this criteria, please disregard and contact your corporate contact or your advisor.
Ayco provides a wide variety of financial counseling, investment advisory, investment education and other services. Ayco’s counseling services may consist of, among other things, assisting the counseled individuals in developing a comprehensive program designed to maximize the benefits of their employers’ existing compensation and fringe benefit programs, to conserve the counseled individual’s assets, to manage income long-term basis and to develop an individual retirement program and estate plan.
Under certain of Ayco’s financial counseling programs, Ayco may recommend securities or investment products, including those offered by its affiliates. This could lead to conflicts of interest of which you should be aware. More information regarding Ayco’s business practices and conflicts is set forth in Ayco’s Form ADV brochure, which is available upon request.
The Goldman Sachs Group, Inc. is engaged in businesses and has interests other than providing financial counseling services to individuals. This includes the management and sale of investment funds and other financial products that may be recommended to counseled individuals, and investment activities and business operations that may affect such funds or products. Ayco and its counselors may receive various forms of compensation, commissions, payments, rebates and services related to sponsoring, managing or selling investment products recommended to counseled individuals. This may incentivize Ayco and its counselors to recommend such products over others which might also be appropriate for counseled individuals.
Ayco may provide tax advice to its clients. In addition, in its capacity as an investment advisor, Ayco may prepare reports that reflect a client’s overall investment portfolio and financial position based on information provided to Ayco by its clients, which Ayco does not certify for accuracy or completeness. Ayco does not provide attest or compilation services and does not prepare, present, audit, review or examine prospective financial information or express any opinion as to the accuracy or validity of that information. Tax advice is provided as part of Ayco’s comprehensive financial planning services, which are not related to the preparation or presentation of financial statements. Certain tax matters may require Ayco to consult with your tax counsel in formulating its tax advice. Ayco does not provide accounting advice to its clients. GS & Co. does not provide accounting or tax advice to its clients, unless explicitly agreed between the client and GS & Co. All clients should be aware that tax treatment is subject to change by law, in the future or retroactively, and clients should consult with their tax advisors regarding any potential strategy, investment or transaction.
This material is for informational and educational purposes only and is provided solely on the basis that it will not constitute investment or other advice or a recommendation relating to any person’s or plan’s investment or other decisions, and Ayco is not a fiduciary or advisor with respect to any person or plan by reason of providing the material or content herein including under the Employee Retirement Income Security Act of 1974, the Internal Revenue Code or Department of Labor Regulations. Unless Ayco otherwise agrees in writing to act as a fiduciary to your retirement account, you understand that: i) all investment decisions concerning your retirement accounts are made by you, without any advice or recommendations from Ayco, and ii) any target allocation shown for your retirement account represents decisions you have communicated to Ayco regarding such asset allocation, without any advice or recommendations from Ayco, after considering your financial circumstances, objectives risk tolerance and goals.
Depending on the particular program, Ayco may analyze the financial status of a counseled individual’s sources of income, assets, personal obligations, expectations, commitments, family responsibilities and the effect of the existing income and estate tax structure on sources of income and accumulation of wealth. Ayco counselors may assist counseled individuals in reviewing and selecting the allocations of assets among various asset groups and they may assist counseled individuals in understanding how certain decisions may affect the counseled individual’s risk/return ratio.
This material is intended for educational/informational purposes only. Any advice contained in this communication, including attachments and enclosures, is intended for the sole use of the addressee and is limited to the facts and circumstances actually known to the author at the time of this writing. The website links provided are for your convenience only and are not an endorsement or recommendation by Ayco of any of these websites or the products or services offered. Ayco is not responsible for the accuracy and validity of the content of these websites. This material is intended only to facilitate your discussions with Ayco as to the opportunities available to our clients and not to be distributed to the general public.
This material has been prepared by Ayco, which is an affiliate of Goldman Sachs & Co. LLC and a subsidiary of The Goldman Sachs Group, Inc. This material is for your information only and is intended for educational purposes only in order to facilitate your discussions with Ayco. This is not an offer or solicitation with respect to the purchase or sale of any security. The material is based upon information which we consider reliable, but we do not represent that such information is accurate or complete, and it should not be relied upon as such. Opinions expressed are current opinions only.
Ayco as an accommodation may include foreign accounts or assets in financial planning discussions or related exhibits; however, it is the sole responsibility of the client to comply with any legal and financial disclosure obligations of the laws of any country to which the client is subject. Ayco will rely on information provided by the client or his or her agents when including foreign accounts or assets in financial planning discussions or related exhibits. Ayco does not verify the accuracy of the any information concerning foreign accounts or assets.
Any link to an Internet site sponsored and maintained by a third party is provided solely as a convenience to you, and does not constitute an endorsement, authorization, sponsorship, or affiliation by Goldman Sachs or Ayco. Neither Ayco or Goldman Sachs has reviewed or tested any information, software, or products found on the site, and therefore makes no representations regarding the content or sponsors of the site or the suitability or appropriateness of the products or transactions described therein. Ayco is paid a fee from the corporate client and/or from the counseled individual to whom counseling services are rendered. Certain corporate clients may impute some or all of the fee to counseled individuals in their employ. Fees vary based on a number of factors including the particular counseling service rendered, the complexity of the service, the size of the account relationship and whether tax preparation is included. Fees are subject to change. GS and its affiliates reserve the right to modify its fees and calculation methodology at its discretion. Fees may vary depending on your selected investments, asset size and, in some instances, transaction levels. Actual fees may differ from estimated fees due to differences in strategies and amounts invested in particular strategies or overall. For certain strategies, you will pay execution charges in addition to the advisory fee. A custody fee may also be assessed. Additional information is available in our agreements and the relevant Form ADV Part 2 for Goldman, Sachs & Co., Goldman Sachs Asset Management, L.P. or other investment manager.
Neither GS & Co. nor Ayco provide legal advice to their clients, and all clients should consult with their own legal advisor regarding any potential strategy, investment, financial plan, estate plan or with respect to their interest in any employee benefit or retirement plan.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the United States, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Not a Municipal Advisor. Ayco is not acting as a municipal advisor and the opinions or views contained in this presentation are not intended to be, and do not constitute, advice, including within the meaning of Section 15B of the Securities Exchange Act of 1934
Ayco AnswerLine®, Aycofn®, Money in Motion® and SurvivorSupport® are registered trademark of The Ayco Company, L.P. These services are provided exclusively by The Ayco Company, L.P.
No part of this material may be i) copied, photocopied, or duplicated in any form, by any means, or ii) redistributed without Ayco’s prior consent.
Potential Conflicts of Interest
Under certain of Ayco’s financial counseling programs, Ayco may recommend securities or investment products, including those offered by its affiliates. This could lead to conflicts of interest of which you should be aware. The Goldman Sachs Group, Inc., Ayco, and their affiliates and employees (collectively, “Goldman Sachs”) are engaged in businesses and have interests other than providing financial counseling services to individuals. This includes the management and sale of investment funds and other financial products that may be recommended to counseled individuals, and investment activities and business operations that may affect such funds or products.
Goldman Sachs, Ayco and its counselors may receive various forms of compensation, commissions, payments, rebates and services related to sponsoring, managing or selling investment products recommended to counseled individuals. This may incentivize Ayco or its affiliates and their employees to recommend such products over others which might also be appropriate for counseled individuals. Goldman Sachs’ arrangements with outside managers may differ, and currently Goldman Sachs, Ayco and its counselors receive greater compensation for accounts managed by Goldman Sachs affiliates than in connection with separate accounts managed by non-Goldman Sachs entities.
Ayco or its affiliates may engage in insurance consulting or the insurance agency business for purposes of offering insurance contracts to counseled individuals, including variable life insurance contracts for which Ayco or its counselors may receive various forms of compensation. In addition, investment advisors of investment funds and products that may be offered to counseled individuals also may have other clients, businesses, and interests in addition to managing the assets of such product. Present and future activities of Goldman Sachs and other advisers in addition to those described in this supplement may give rise to additional conflicts of interest. More information regarding Ayco’s business practices and conflicts is set forth in Ayco’s Form ADV brochure, which is available upon request.
Manager selection and ongoing due diligence of certain unaffiliated mutual funds and ETFs is performed by the Alternative Investments and Manager Selection (“AIMS”) group within Goldman Sachs Asset Management (“GSAM”). Such due diligence may include, but is not limited to, on-site meetings, analytics related to historical performance, reference calls and risk reviews. This is not meant to be an exhaustive description of the due diligence process performed by AIMS, which could be modified in certain instances based on a number of factors. An “Outside Manager” is a manager that has not been reviewed or approved by AIMS and any manager not recommended by Ayco or its affiliates including GS&Co. and GSAM. Ayco does not follow, review or make any recommendations concerning Outside Managers. Ayco’s actions with regard to Outside Managers may differ from, and may conflict with, the opinions or advice given or investment decisions made by Ayco’s affiliates, including GS&Co. and GSAM. Ayco may, as an accommodation, include investments managed by Outside Managers in asset allocation discussions or in an asset allocation and other financial planning exhibits; however, any decision to invest with an Outside Manager is determined solely by the client. Ayco and its affiliates are not responsible for the selection, supervision, management, performance or other similar services of or in connection with any Outside Manager. Ayco and its affiliates do not assume any liability related to a client’s acquisition, disposal or holding of investments(s) managed by an Outside Manager. Ayco will rely on information provided by or on behalf of clients when including an Outside Manager in asset allocation discussions, or preparing asset allocation and other financial planning exhibits. Neither Ayco nor its affiliates verify the accuracy or completeness of the information concerning Outside Managers provided by or on behalf of clients.
©2022 The Ayco Company, L.P., d/b/a Goldman Sachs Ayco Personal Financial Management. All Rights Reserved. Brokerage services are offered through Goldman Sachs & Co. LLC and Mercer Allied Company, L.P. (a limited purpose broker-dealer), both affiliates of Ayco and members FINRA/SIPC.