Questions raised over business model of Goldman’s ETF Accelerator

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Financial Times 17h ago

Questions raised over business model of Goldman’s ETF Accelerator - Financial Times

Quick Summary:

His understanding was that Goldman had hired more people, typically on higher salaries, compared to white-label providers, and the maths simply did not work for them, given the low fees and margins prevalent in much of the ETF industry.

Opinions were divided as to whether Goldman would be likely to find a buyer, assuming it does decide to pull the plug.“Goldman Sachs has a strong institutional presence and lots of resources for asset managers that are seeking to enter the ETF world.

Whereas US white labellers are “fiduciary asset management platforms”, he described Goldman’s connection to its clients as more akin to a “consultant”.“They were really trying to build a tech platform that could help people launch, and it leaves a lot of the fiduciary responsibility with the client.