The turnkey asset management platform GeoWealth has expanded its 2025 Series C financing round with a $42.5 million minority investment from Goldman Sachs to support growth and provide shareholder liquidity.
Family office Globe Resources Group retains majority ownership of GeoWealth, while Apollo, BlackRock, J.P. Morgan Asset Management and Kayne Anderson Capital Advisors remain minority investors.
“This wasn’t cash we needed,” said Colin Falls, CEO of GeoWealth, “we’re at scale and the majority of this is going to shareholders—we feel pretty good about where we are at from a balance sheet, cash perspective.”
He said the remainder was likely headed toward three other areas, which included continued investment in development of its UMA technology with additional inclusion of alternatives, as well as general core platform improvements and planning around artificial intelligence.
Falls said with its investment, Goldman Sachs now has a seat at the table in molding those developments and the directions and planning GeoWealth’s path forward.
“We’ve deepened our relationship with Goldman, which goes back two years now,” he said.
GeoWealth serves registered investment advisors nationwide through a unified managed account framework that enables advisors to combine multiple investment vehicles in a single account.
Bryon Lake, partner and global co-head of third-party wealth and chief transformation officer at Goldman Sachs Asset Management, will join GeoWealth’s board of directors, following the investment.
“Increasingly, advisors, RIAs in particular, are living in a complex world, and convergence of public and private investments, and the tax ramifications they are working with are extensive for high-net-worth clients and GeoWealth is developing technology in a deliberate, cohesive fashion to serve them,” said Lake.
He noted that with GeoWealth’s expertise on the managed account side and the extensive work each firm had done on direct indexing and Goldman’s breadth in alternatives and the size of its platform offering, the scope of the possibilities working in concert was hard to deny.
“It’s the combination of the technology and rails we’ve both built that is what makes this very special,” said Lake.
GeoWealth and Goldman Sachs Asset Management first partnered in October 2024 to enable RIAs to build open-architecture custom models through a total portfolio solution.
Asked whether he could share any additional detail on GeoWealth’s roadmap for artificial intelligence, Falls said the firm and its partners would remain very deliberate.
“Everyone is generally focused on improving internal efficiencies, but we’ve already built a lot of that automation into our platform along the way and eventually it comes down to how do we integrate all that from an agentic point of view,” said Falls, hinting at future developments.
In July 2024, GeoWealth raised $18 million in growth investment funding, with BlackRock as a new lead investor at the time; and the firm announced its $19 million Series B round in November 2021.
“We’ve been very intentional about maintaining the right balance of investors—anchored by a majority family office owner that gives us the freedom to build the company on our terms—while also partnering with some of the world’s largest institutions that help us think strategically, grow thoughtfully and continue to innovate for our RIA partners,” Falls wrote in the statement announcing the latest funding.
