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Goldman, T. Rowe Launch First Co-Branded Portfolio for Wealthy Clients

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Key Takeaways

  • Goldman launches co-branded model portfolios for RIAs through GeoWealth's UMA platform.
  • TROW-backed four ETFs and hybrid models now live, offering tax-aware options for mass-affluent clients.
  • GS & TROW plans a dedicated HNW portfolio with direct indexing and evergreen alternatives in early 2026.

Goldman Sachs Asset Management (GS - Free Report) and T. Rowe Price Group, Inc. (TROW - Free Report) have officially launched their first co-branded model portfolios, marking the initial phase of the firms’ strategic alliance announced in September 2025. The portfolios are designed to provide advisors serving mass-affluent and high-net-worth (HNW) clients with diversified investment solutions that leverage the strengths of both asset managers.

Details of the Goldman–T. Rowe Portfolios

The co-branded model portfolios are offered through GeoWealth’s unified managed account (UMA) platform, allowing Registered Investment Advisors (RIAs) to offer diversified portfolios within a single account.

The four portfolios currently available on the GeoWealth platform for RIAs include the “Goldman Sachs T. Rowe Price Dynamic ETF Portfolio, Tax-Aware Dynamic ETF Portfolio, Dynamic Hybrid Portfolio, and Tax-Aware Dynamic Hybrid Portfolio.” They offer diversified investment choices using mutual funds and exchange-traded funds (ETFs) for mass-affluent and HNW client segments.

A fifth model portfolio, “Goldman Sachs T. Rowe Price High Net Worth Portfolio,” specifically designed for high-net-worth investors and incorporating direct indexing and evergreen alternative funds, is expected to launch in the first half of 2026.

The portfolios bring together the investment expertise of Goldman’s Multi-Asset Solutions team and T. Rowe Price’s retirement and wealth management capabilities. Advisors also receive coordinated support from more than 200 wholesalers, home office teams, and dedicated model specialists across both firms.

Strategic Rationale Behind the GS-TROW Collaboration

The launch follows Goldman’ $1 billion strategic investment in T. Rowe Price, announced in September 2025, aimed at jointly developing new investment products and expanding wealth-channel offerings. The collaboration is expected to strengthen advisor confidence and help investors achieve better long-term outcomes.

Through GeoWealth’s UMA platform, and in partnership with Goldman Sachs Asset Management and iCapital, RIAs can seamlessly build and manage public and private market portfolios in a single account. The platform also offers the ability to customize each portfolio based on client needs and to rebalance it efficiently at scale.

GS & TROW’s Price Performance & Zacks Rank

Over the six months, shares of GS and TROW have gained 42.4% and 13.1%, respectively, compared with the industry’s growth of 25%.

Zacks Investment ResearchImage Source: Zacks Investment Research

Both companies currently carry a Zacks Rank #3 (Hold).

Other Finance Stock Worth a Look

Cohen & Steers Inc. (CNS - Free Report) is a better-ranked stock that is worth looking at. Currently, the company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for CNS’s 2025 earnings have remained unchanged over the past week. Its shares have surged 15.4% over the past six months.


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