The Compound and Friends cover image

The Bet

The Compound and Friends

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The Goldman Sachs Deal With United Capital

Goldman bought United Capital, which is a retail RIA gigantic firm built by Joe Duran. I think people on both sides of that deal scratched their heads. If you talk to Goldman people on the wealth side, the new thing that they're really investing in and I'm sure they'll do a great job is building out custody. That's not a type of business that you think a high-flying Goldman Sachs executive would be excited about.

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