Philanthropic Strategy

Our Relationship with Clients. We act as an investment adviser or as a broker depending on our relationship with you, and may act as both for some clients. Our role and obligations will vary depending on the capacity in which we act. Where we act as an investment adviser, our primary role is to give you advice, help you manage your investments or help you hire another adviser to do so. Where we act as a broker, our primary role is to execute trades for you based on your instructions and any advice we give you is incidental to our brokerage services. How we are compensated by you (and sometimes by issuers or managers of investments who compensate us based on what you buy) and how your Private Wealth Management team is compensated will vary depending on whether you have an advisory or brokerage account and on the investments we or you make in your account, and may change over time. Goldman Sachs & Co. LLC (“we,” “us,” and “GS&Co.,” and together with its affiliates, “Goldman Sachs” or “GS”) is registered with the Securities and Exchange Commission (“SEC”) as both a broker-dealer and an investment adviser and is a member of the Financial Industry Regulatory Authority (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). We predominantly offer investment advisory and brokerage services to retail investors through our Wealth Management business unit, which includes Private Wealth Management (“PWM”). Investment advisory and/or financial counseling services may be provided by GS&Co., an affiliate, or an external manager under the wrap program sponsored by GS&Co. Brokerage services are provided by GS&Co.

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Scope of Family Office Services.  As described below, GS does not provide legal, tax, or accounting advice to its clients, unless explicitly agreed in writing. You are encouraged to consult with your own tax, legal or other professional advisers regarding your specific circumstances.  As part of GSFO Services, GSFO may discuss with you various aspects of financial planning, including but not necessarily limited to the potential income tax consequences of your investments, estate planning, philanthropic endeavors, and certain other activities that may affect your income tax, gift tax and estate tax.  GSFO Services vary among clients, are provided based on individual client needs and preferences, and are generally limited to educational consultations that should not be viewed as tax or legal advice.  Not all clients may receive all services.  Financial planning and GSFO Services do not address every aspect of a client’s financial life and the fact that a topic is not discussed with you does not necessarily indicate that the topic is not applicable to your financial situation.  Certain activities may fall beyond the scope of the GSFO Services.  GSFO does not provide investment advice or investment management services, unless explicitly agreed in writing.  Investment and/or brokerage services for your GS accounts are provided by your Wealth Advisor, pursuant to the terms of the agreements between you and GS.  Any discussions of pending legislation, or hypothetical projections based on same, are educational and should not be construed as or relied upon as investment, tax or legal advice. GS assumes no duty to take action pursuant to any recommendations or financial planning strategies discussed with you as part of GSFO Services.  It is your responsibility to determine if and how any such recommendations or financial planning strategies should be implemented or otherwise followed, and you are encouraged to consult with your own tax, legal or other professional advisers regarding your specific circumstances.  GS is not liable for any services or advice received from your independent advisors, nor for the results or consequences arising from any such services or advice.  Where GSFO provides art and collectibles strategy services, such services are educational in nature. GS does not recommend the purchase of art or collectibles as an investment strategy, nor does it provide formal or informal appraisals of the value of, or opine on the future investment potential of, any specific artwork or collectible. **

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Entities Providing Services.

The below entities are affiliated entities that are subsidiaries of The Goldman Sachs Group, Inc. (collectively, the “Firm” or “Goldman Sachs”).  Please note that offering of services is subject to jurisdictional requirements, and may not be available to all clients.

United States

Investment advisory and/or financial counseling services may be provided by Goldman Sachs & Co. LLC (“GS&Co.”), an affiliate, or an external manager under the wrap program sponsored by GS&Co. Entities and/or affiliates may include but are not limited to Goldman Sachs Wealth Services, L.P. or another affiliate. Brokerage services are provided by GS&Co., member Financial Industry Regulatory Authority (“FINRA”) / Securities Investor Protection Corporation (“SIPC ”).

EMEA

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Asia

Click here for Asia Pacific Cross Border Disclosures

Tax Information. GS does not provide legal, tax or accounting advice, unless explicitly agreed in writing between you and GS, and does not offer the sale of insurance products. You should obtain your own independent tax advice based on your circumstances. The information included in this presentation, including, if shown, in the Tax Summary section, does not constitute tax advice, has not been audited, should not be used for tax reporting, and is not a substitute for the applicable tax documents, including your Form 1099, Schedule K-1 for private investments, which we will provide to you annually, or your monthly GS account statement(s). The cost basis included in this presentation may differ from your cost basis for tax purposes. Information regarding your Alternative Investments and transactions for retirement accounts are not included in the Tax Summary section.

Educational Only.  This information provided on this site is intended for educational and informational purposes only and is provided solely on the basis that it will not form a primary basis for any investment decisions. This information is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any client’s account should or would be handled, as appropriate investment strategies depend upon the client’s investment objectives.

Goldman Sachs & Co. LLC is registered with the Securities and Exchange Commission (“SEC”) as both a broker-dealer and an investment adviser and is a member of the Financial Industry Regulatory Authority (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”).