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Goldman Sachs Names New Head of Personal Financial Management Advisors

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Goldman Sachs Personal Financial Management Group has named David Fox, most recently regional head of the Southwest for Goldman Sachs Private Wealth Management, as head of PFM Advisors, a newly created role, according to a memo shared by Stephanie Cohen and Tucker York, Global Co-Heads of Consumer and Wealth Management at Goldman Sachs. 

Fox will report to Larry Restieri and Joe Duran, co-heads of the firm’s Personal Financial Management Group.

Early last year, Goldman brought Ayco, which provides corporate-sponsored workplace financial planning, and Personal Financial Management, its rebranded United Capital business, under one corporate umbrella called the Goldman Sachs Personal Financial Management Group.

Fox will oversee PFM’s region heads and help them grow the business. He’s also been tasked with improving the advisor experience, deepen client engagement and recruit more advisors.

“His regions have seen outsized growth during his tenure and, for the past decade, he has led the national training and development of PWM’s new advisors introducing innovative programming that has improved onboarding and productivity,” the memo said. “Throughout his career, David has been an advocate for advisors and we are confident he will be a champion for the PFM advisor population to help build on all of their success.”

Fox started in the industry in 1999 as an advisor with Goldman in Philadelphia, managing assets for individuals, foundations and institutions. He became region head in the Southeast and head of the Atlanta office in 2006. He was named a partner in 2016. Prior to joining the firm, he was a professional swimmer, and won a gold medal as a member of the 1996 Olympic Team in Atlanta.

Last week, Jene Hoosier, the former chief operating officer for FinLife Partners at Goldman Sachs Personal Financial Management, a digital financial planning platform for advisors that was part of the United Capital acquisition, joined Sanctuary Wealth as head of platform strategy.

In March, Rachel Schnoll, former head of FinLife Partners, left Goldman Sachs to be CEO of the Jewish Communal Fund, one of the largest donor-advised funds in the country.