Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor
Joe Duran, head of Goldman Sachs Personal Financial Management

Industry Spotlight > RIAs

Joe Duran Unveils New Venture

By Jeff Berman

X
Your article was successfully shared with the contacts you provided.

Former United Capital founder and CEO Joe Duran confirmed at the Future Proof conference in Huntington Beach, California, on Monday that he plans to make his return to the registered investment advisor sector soon with a company looking to take minority stakes in RIAs, as reported in August.

That new venture’s name is Rise Growth Partners and it will launch in 2024, Duran said Monday.

in 2019, Duran sold United Capital to Goldman Sachs for $750 million; the RIA was rebranded Goldman Sachs Personal Financial Management.

Duran and a spokesperson for the new venture didn’t immediately respond to a request for comment on Tuesday.

“We believe that exceptional advisors need better capital solutions,” Rise Growth Partners says on its website.

It explains what type of RIAs it’s looking to invest in: “If you are a growth oriented, Middle Market RIA” — which it defines as $750 million to $5 billion in assets under management — “with aspirations to become the next generation of national platforms, then you need more than just capital. You need an experienced partner to help you grow who has been there and done that.”

The company adds:

“We are currently in talks with some of the most exciting RIAs in the country and would love to speak with you. We know that Rome was not built in a day and we are taking a very thoughtful approach to our launch in 2024.”

The new venture’s name was reported by Investment News and Wealthmanagement.com on Monday.

Duran stepped down early this year as a Goldman Sachs partner and co-head of its Personal Financial Management Group.

A spokesman for Duran told ThinkAdvisor in August that Duran was “considering his options. Nothing has been decided and until it has it is very premature to discuss hypotheticals.”

Last month’s news of Duran’s plans arrived shortly before Goldman announced the sale of the former United Capital business to Creative Planning for an undisclosed sum.

Pictured: Joe Duran

Jeff Berman

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.