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Should I Use Goldman Sachs?

goldmansachs.com·Analyzed 6 hours ago··Based on 14 sources

A leading global investment banking, securities, and asset and wealth management firm.

Depends

Depends

Built for large institutions, corporations, and investors with $10M-plus — if that is you, few firms match it.

Goldman fits big institutions and $10M+ investors. For everyone else it's overkill — use Marcus, a credit union, or a low-fee advisor.

Confidence: Medium

3.3/5

Employee rating

1.7k AmbitionBox reviews

1.9%

PWM advisory fee

On first $10M managed

$274B

Market cap

GS ~$950/share, P/E 14.68

$0 fees

Consumer savings (Marcus)

No minimum deposit

Value for money2

1.9% AUM fee on first $10M is steep

Feature depth5

Full-suite banking, trading, wealth services

Support quality2

Trustpilot reports negative customer service

Security posture3

Strong program; third-party breach exposed client data

Pros

  • Full-service bank: M&A, trading, asset and wealth management under one roof13
  • Marcus savings: no fees, no minimum, same-day $100K transfers10
  • Dedicated Private Wealth Management advisors with full Goldman platform access11
  • Active growth investor; led Owner's $240M round at $2.3B valuation12
  • Marquee gives clients Goldman's pricing data and risk models14

Cons

  • PWM fees: 1.9% on the first $10M managed⁵
  • Negative customer service experiences reported on Trustpilot³
  • Third-party law-firm breach may have exposed client data (Dec 2025)⁶
  • CFPB enforcement order against Goldman Sachs Bank USA (Oct 2024)⁹
  • Apple Card leaving Goldman for JPMorgan — consumer retreat underway⁸

Gotchas

  • highPWM tier pricing starts at 1.9% for $0–$10M; smaller portfolios pay the top rate⁵
  • mediumConsumer products live on separate sites like Marcus; itself has no self-serve signup10
  • mediumTrustpilot skews negative on service; expect slow resolution as a retail customer³

Best for

  • Corporations raising capital or executing M&A
  • Institutions needing trading and asset management
  • Investors with $10M+ wanting dedicated advisors
  • Founders seeking growth-equity backing

Not for

  • Everyday consumers wanting simple banking
  • Small businesses needing basic accounts
  • Budget investors — 1.9% fees crush small portfolios
  • Anyone without institutional-scale assets or relationships

Companies that use it

  • Owner (led its $240M growth round)12

Companies that could

  • Apple⁸Uses JPMorgan Chase (Apple Card) instead

Pricing

Private Wealth Management

1.9% of assets ($0–$10M)

  • Dedicated advisor team
  • Full Goldman platform access

Marcus Online Savings

$0 fees, no minimum

  • Rate ~8X national average
  • Same-day transfers up to $100K

Investment banking / institutional

Negotiated

  • M&A, underwriting, trading
  • Pricing not published

Security

Mature security program, but a Dec 2025 third-party law-firm breach may have exposed client data.

  • Third-party law firm breach (Dec 2025)A cybersecurity incident at an outside law firm may have exposed some Goldman client data; JPMorgan disclosed a similar incident.⁶

What users say

Employee reviews average 3.3/5 across 1.7k AmbitionBox reviews, while consumer feedback on Trustpilot and Yelp skews negative on service.

“Remove your money before someone else does. Account security is non existent. All you need is someones email”
— Yelp reviewer
“One of the best to work for (Vice President). Goldman Sachs, New York, 2020.”
— Wall Street Oasis review

Alternatives

Compare Goldman Sachs with each alternative.

Fidelity Wealth Management

Guess: Full-service advice at lower published fees.

Local bank or credit union

Guess: Basic business banking without institutional minimums.

Full analysis

Based on ~20 public sources; unrelated 'Sachs' results (Tom Sachs, Ira Sachs) were excluded as noise.

Sources

  1. Goldman Sachs Reviews 2026: Details, Pricing, & Featuresg2.com
    review
  2. Goldman Sachs Reviews by 1700+ Employees | Rated 3.3/5ambitionbox.com
    review
  3. Goldman Sachs Reviews | Read Customer Service Reviewstrustpilot.com
    review
  4. GOLDMAN SACHS - 41 Reviewsyelp.com
    review
  5. Goldman Sachs Private Wealth Management Reviewunbiased.com
    review
  6. Goldman Sachs Says Third-Party Breach May Have Exposed Datapymnts.com
    security
  7. After Goldman, JPMorgan Discloses Law Firm Data Breachsecurityweek.com
    security
  8. Apple Card Dumps Goldman Sachs for JPMorgan Chasesecurityonline.info
    news
  9. Goldman Sachs Bank USA - CFPB Orderconsumerfinance.gov
    news
  10. High Yield Online Savings Accountmarcus.com
    official
  11. Goldman Sachs Private Wealth Managementpwm.gs.com
    official
  12. Owner Raises $240M Led by Goldman Sachsam.gs.com
    news
  13. Goldman Sachs - Wikipediaen.wikipedia.org
    official
  14. With Marquee, Institutions Access Datagoldmansachs.com
    official

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