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Goldman Sachs has delayed its plans to expand its wealth management services. So reports Advisor Hub

hand 944306 640In January, the firm had said it planned to hire 250 advisors globally over the next few years to serve ultra-wealthy clients. It also said it would continue to expand to continue to serve middle class and young investors.

“While we continue to pursue growth in our overall wealth franchise, we are acting prudently in the current environment,” says John Waldron, Chief Operating Officer, according to Advisor Hub. “We have decided to slow our advisor hiring activities this year… and we will defer the launch of our digital wealth offering into 2021.”

Waldron made his comments at a virtual conference for investors.

Read the full article from Advisor Hub.

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