A Daily Network publication
Explore the network
Private Wealth Daily
Independent Intelligence on the Private Wealth Industry
Monday, October 19, 2026The Morning Brief →Sign in
the-openFeatures

Goldman Sachs and Phoenix Financial announce $4 billion client-asset transaction

The deal is nearly ten times the $412 million in combined RIA acquisitions Apella and Waverly disclosed overnight.

At a glance

20-second brief
  • Goldman Sachs and Phoenix Financial announced a transaction covering $4 billion in client assets, according to our records.

  • Apella’s $261 million deal and Waverly’s $151 million deal total $412 million, according to our records.

  • The $4 billion Goldman Sachs–Phoenix Financial transaction is larger than the $412 million in RIA acquisitions and the $407.5 million in real estate closings combined.

Goldman Sachs and Phoenix Financial announced a transaction covering $4 billion in client assets, according to our records. That is nearly ten times the $412 million in combined RIA acquisitions Apella and Waverly disclosed overnight.

Apella’s $261 million deal and Waverly’s $151 million deal total $412 million, according to our records. Four real estate deals closed in the same window and came to $407.5 million, just under the two wealth-management transactions.

The $4 billion Goldman Sachs–Phoenix Financial transaction is larger than the $412 million in RIA acquisitions and the $407.5 million in real estate closings combined.

One $4B mandate dwarfs the night's RIA and real estate deals
Announced and closed client-asset deals, same window
Goldman Sachs · Phoenix Financial$4B
Apella + Waverly (RIA acquisitions)$412M
Four real estate closings$407.5M
PWD DEAL TRACKING · OCT 19, 2026
Continue your research

Save this analysis and keep the funds you follow together in My Desk.

Sign in to save articles or follow funds.
Sources & further reading
PWD deal tracking
More from PWD
Features

Merrill adds $1.2B UBS team in Santa Fe; Glassel and Fox to join &Partners

John Vazquez and Manuel Monasterio led the Santa Fe team, which produced about $4.7 million in revenue, according to AdvisorHub.
Features

Janney opens Houston with $3.3B Raymond James team; Ameriprise recruits three RBC teams

The Edward Fitzpatrick Group managed about $3.3 billion at Raymond James; one report puts the four advisors' client assets at nearly $3.5 billion.
The Close

Rockefeller Global Family Office adds seven-person $1.2 billion Truist team in Naples

The Kellam Group moved as a seven-person unit, with support staffer Charles Outlaw, according to AdvisorHub.
Elsewhere in the networkAll titles →
Every weekday · 6:30 a.m. ET

The Morning Brief

The private wealth industry in four minutes, every weekday at 6:30 a.m. ET. Free.