Skip navigation
businessman-illustration-doors.jpg Anton Vierietin/iStock/Getty Images Plus

Arizona-Based Goldman PFM Advisors Jump Ship to Other RIAs

One Arizona team has launched their own firm with the support of Dynamic Wealth Advisors, while three other advisors have joined Meridian Wealth Management.

More advisors have left Goldman Sachs Personal Financial Management in the wake of the sale of the $29 billion AUM unit to Creative Planning. That deal is expected to close in the fourth quarter.

Former Goldman PFM Vice Presidents Paul Swenson and David Hughes, based in Scottsdale, Ariz. and Phoenix, respectively, have launched their own registered investment advisor, Swenson Hughes Wealth Management. The duo partnered with Dynamic Wealth Advisors, a professional services provider with $3.3 billion in assets under management across its network, to support the launch.

Swenson and Hughes did not immediately respond to requests for comment. Hughes announced the launch on LinkedIn. A spokeswoman for Dynamic did not return a request for comment prior to publication.

In addition, former Goldman Sachs PFM advisors David Lundgren, in Paradise Valley, Ariz., and Bruce Ward Jr. and Sergio Ortiz, both in Tucson, Ariz., have also left to join Meridian Wealth Management, a Lexington, Ken.- and Tucson-based RIA with about $1.8 billion in assets under management, according to its Form ADV. The firm was founded in 2009 by Greg Couch after he left Morgan Keegan. Couch now serves as CEO.

Several large advisor teams have defected from Goldman’s PFM unit since the firm announced the sale to Peter Mallouk’s RIA Creative Planning, joining firms like Farther, Apollon Wealth, and Prime Capital Investment Advisors, according to published reports. Earlier this week, reported a Morristown, N.J.-based team recently left to join Quotient Wealth Partners, a Dallas-based RIA that was founded by another group of Goldman Sachs PFM defectors.

Goldman Sachs PFM managed a little more than $29 billion across 781 advisors at the end of last year, according to federal filings.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.