Goldman Sachs Group Inc. has reached an agreement to sell an investment-advisory business targeting the mass-affluent market with approximately $29 billion in assets to Creative Planning LLC, a wealth-management firm with assets totaling $240 billion. 

As reported by ThinkAdvisor, Chief Executive Officer David Solomon's strategy to expand Goldman's scope beyond its conventional focus on ultra-wealthy individuals included the United Capital acquisition. This move established an immediate link with approximately 22,000 clients, each possessing over $1 million within the platform. This contrasts markedly with Goldman's customary high-net-worth clients, who commit tens of millions to the bank.

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