Goldman Sachs Partners With IG Wealth Management

The Goldman Sachs Group entered a strategic collaboration with IG Wealth Management to expand its footprint in the Canadian wealth market. Under the agreement, Goldman Sachs Asset Management's multi-asset solutions team will take over portfolio management for five IG Strategic Wealth Portfolios. These portfolios offer Canadian investors exposure to equities, fixed income, and alternative assets.

The partnership supports Goldman's strategy to expand its Asset & Wealth Management unit and prioritize capital-light, recurring fee revenues. Management and other fees, alongside private banking and lending revenues, grew at a compound annual rate of 12% from 2021 through 2025, maintaining that upward trend into the first half of 2026.

The move follows a series of recent expansion deals. In September 2025, Goldman partnered with T. Rowe Price on public-private investment solutions. In April 2026, it acquired Innovator Capital Management, adding roughly $31 billion in assets under supervision. In August 2026, the firm agreed to acquire NEOS Investments, which manages about $30 billion, aiming to build a combined $130 billion global ETF platform. Goldman also agreed in August 2026 to acquire real estate platform LCN Capital Partners.

Peers are also scaling their wealth businesses. In the first half of 2026, JPMorgan saw Asset & Wealth Management segment revenues rise 15% year over year, with client assets reaching $7.66 trillion as of June 30, 2026. Morgan Stanley generated $20.6 billion across Wealth and Investment Management in the same half, holding $8.08 trillion in Wealth Management client assets.

Shares of Goldman Sachs have gained 37.3% over the past year, outpacing the industry average gain of 24.2%.