Goldman Sachs
Private Wealth Management for the private banking desk. Everything below is from the bank's own pages, its regulators or the league table publishers, numbered to the Sources page.
The facts
- Goldman Sachs states that to open an account with Private Wealth Management clients must generally have a minimum of $10 million in investable assets (page read 1 November 2026).2
- Goldman Sachs states that equity share and ETF commissions for non-U.S. securities fall within a range ending at 0.50% (stated as 50.00 basis points) (page read 1 November 2026).257
- Goldman Sachs states that equity share and ETF commissions for non-U.S. securities fall within a range starting at 0.10% (stated as 10.00 basis points) (page read 1 November 2026).258
- Goldman Sachs states that FX spot and forward charges fall within a range ending at 0.30% (stated as 30.00 basis points) (page read 1 November 2026).259
- Goldman Sachs states that FX spot and forward charges fall within a range starting at 0.05% (stated as 5.00 basis points) (page read 1 November 2026).260
- Goldman Sachs, as a global coordinator and representative of the underwriters alongside Bank of America, Citigroup and JPMorgan Chase, shared an underwriting discount of 0.972% of the offer price with the other underwriters on the SK hynix Inc. ADS offering in the United States in July 2026.31
- Goldman Sachs, as a joint book-running manager alongside JPMorgan Chase and Allen & Company LLC, shared an underwriting discount of 4.375% of the offer price with the other underwriters on the Bending Spoons S.p.A. IPO in June 2026.32
- Goldman Sachs, financial adviser to Avidity Biosciences, Inc. on its merger with Novartis AG, was to receive a fee of $108 million, per the merger proxy filed in January 2026.81
- Goldman Sachs, financial adviser to Kenvue Inc. on its merger with Kimberly-Clark Corporation, was to receive a fee of $63 million, per the merger proxy filed in December 2025.82
- LSEG ranked Goldman Sachs first in its table of global announced M&A for full-year 2025.34
- LSEG ranked Goldman Sachs second in its table of global investment banking fees in the Global Investment Banking Review for full-year 2025.35
What it publishes
| Desk | Item | Published | As read |
|---|---|---|---|
| capital markets | fee schedule | No | |
| capital markets | minimum investable assets | No | |
| capital markets | eligibility criteria | No | |
| capital markets | indicative fee range | No | |
| capital markets | retainer terms | No | |
| m and a | fee schedule | No | |
| m and a | minimum investable assets | No | |
| m and a | eligibility criteria | No | |
| m and a | indicative fee range | No | |
| m and a | retainer terms | No | |
| private banking | fee schedule | Partly | Brokerage fees and execution charges generally fall within the ranges provided below. All these fees are subject to change and negotiation. |
| private banking | minimum investable assets | Yes | To open an account with PWM, clients must generally have a minimum of $10 million in investable assets. |
| private banking | eligibility criteria | Yes | To open an account with PWM, clients must generally have a minimum of $10 million in investable assets. Our target client base includes high-net-worth families |
| private banking | indicative fee range | Partly | Brokerage fees and execution charges generally fall within the ranges provided below. |
| private banking | retainer terms | Partly | Advisory fees are calculated and payable quarterly in arrears and will de debited from your account. |
The Secret Banker's view
Goldman publishes a private wealth minimum of $10 million, qualified by 'generally', which in my experience is the most expensive word in banking. The advisory fee schedule sits in an appendix to a regulatory form rather than on any page I read. The M&A desk publishes no fee, but the Karuna Therapeutics merger proxy shows one of $117 million, with $112 million of it contingent on completion. Dealogic ranked Goldman first in global M&A volume for 2025, which is a brochure in itself.
Opinion, based on the facts above. Corrections through the contact page; a credible one gets a sourced fix within a week.
No firm named here has been consulted, and none should feel left out.