By Liz Hoffman 

Goldman Sachs Group Inc. is nearing a deal to acquire investment management firm United Capital Financial Partners Inc. expanding its push into managing assets for individuals, according to people familiar with the matter

The deal would be Goldman's biggest deal since the financial crisis and could be announced as soon as Monday, the people said.

United Capital, based in Newport Beach, Calif., manages some $24 billion in client assets and had more than 220 advisors. The exact price couldn't be determined, but Goldman is paying several hundred million dollars, some of the people said.

(More to come)

 

(END) Dow Jones Newswires

May 10, 2019 16:25 ET (20:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Goldman Sachs (NYSE:GS)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Goldman Sachs Charts.
Goldman Sachs (NYSE:GS)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Goldman Sachs Charts.