Goldman Sachs Group Inc. is buying boutique wealth-management firm United Capital Financial Advisers for $750 million in cash, striking its biggest deal in two decades as it accelerates a push away from Wall Street into lower-octane businesses. United, whose 220 financial advisers manage $25 billion in assets, will slot into Goldman’s existing wealth-management business, which skews toward billionaires. The Wall Street Journal reported last week that the companies were nearing a deal.

Source: Wall Street Journal May 16, 2019 13:25 UTC