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Goldman Pulls In $80 Million a Week From High-Net-Worth Clients

Goldman Sachs Group Inc.’s business catering to high-net-worth individuals has seen a surge in new assets since it bought registered investment adviser United Capital for $750 million last year.

The bank’s personal financial management unit is bringing as much as $80 million a week in assets, or double its average before the acquisition, according to Joe Duran, a founding partner at United Capital who now runs the business at Goldman. The growth is driven by referrals from existing customers, private wealth advisers who handle ultra-rich clients, and Ayco, the bank’s financial-planning business for corporate executives.