Goldman Sachs Group Inc. is discontinuing its ETF Accelerator platform, a digital tool designed to assist clients in launching and managing their own exchange-traded fund (ETF) products.
Transition to Tidal Financial Group
The bank will transfer its servicing responsibilities to Tidal Financial Group, a U.S.-based white-label ETF provider. This decision follows the platform’s launch in 2023.
- Tidal Financial Group will manage two trusts containing 12 ETFs created under the Accelerator program.
- These funds were initiated by clients who utilized Goldman Sachs’ services.
A Goldman Sachs spokesperson explained the rationale behind this decision:
"We have spent the past few months working with the independent trust to determine the best path forward for our ETF Accelerator business and collectively decided that moving the platform to Tidal was the best long-term solution for our clients and continued success of their funds."
Client Overview
The European arm of this business currently has only one client, Ultramarin, a German asset manager. Ultramarin has been using Goldman Sachs’ services since June of last year to launch two ETFs.
As part of this transition, Tidal Financial Group will take on responsibility for these existing funds as well as any future ones created through this service.
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