{ "docId": "019dd923-5e88-73ef-bd5a-28c72cc9d740", "docSlug": "1b9c53be021f8188", "documentTitle": "asset and wealth management mn", "authorId": "GoldmanSachs", "authorName": "Goldman Sachs", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "equity_research", "sourceTypeLabel": "Equity research", "presentationDate": null, "orientation": "portrait", "aspectRatio": 0.773, "pageNumber": 142, "pageCount": 183, "prevPage": 141, "nextPage": 143, "slideType": "appendix_disclosure", "function": "other", "density": "dense", "nDataPoints": 0, "notes": "This is a standard regulatory disclosure page from a Form ADV filing.", "elementsJson": [ "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5e88-73ef-bd5a-28c72cc9d740/142", "deckHref": "/decks/019dd923-5e88-73ef-bd5a-28c72cc9d740", "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5a-28c72cc9d740.json", "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5a-28c72cc9d740#slide-142", "components": [ { "bbox": { "h": 0.08, "w": 0.76, "x": 0.12, "y": 0.31 }, "kind": "paragraph", "text": "In certain circumstances, and in accordance with applicable laws, a particular Registrant (or a particular business unit within a Registrant) or an affiliate of the Registrants will refer clients to another Registrant (or another business unit within the same or a different Registrant). Payment for any such referrals may take the form of cash or non-cash compensation (including a reduction of management fees or performance-based compensation).", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0f118b49-7055-46f5-a7e8-c6b5cc982330", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.45, "w": 0.76, "x": 0.12, "y": 0.43 }, "kind": "paragraph", "text": "Goldman Sachs or the Advisory Accounts have in the past made, and may in the future make, payments to authorized dealers and other financial intermediaries (collectively, “Intermediaries”) to promote the Advisory Accounts or other products. These payments may be made out of Goldman Sachs’ assets or amounts payable to Goldman Sachs. These payments create an incentive for an Intermediary to highlight, feature or recommend Advisory Accounts. Subject to applicable law and regulations, such payments may compensate Intermediaries for, among other things: marketing the Advisory Accounts and other products (which may consist of payments resulting in or relating to the inclusion of Advisory Accounts and other products on preferred or recommended fund lists or in certain sales programs sponsored by the Intermediaries); access to the Intermediaries’ registered representatives or salespersons, including at conferences and other meetings; assistance in training and education of personnel of Goldman Sachs; \"finders fees\" or \"referral fees\" or other fees for providing assistance in promoting the Advisory Accounts and other products (which may include promotions in communications with the Intermediaries’ customers, registered representatives and salespersons); various non-cash and cash incentive arrangements to promote certain products, as well as sponsor various educational programs, sales contests and/or promotions; travel expenses, meals, lodging and entertainment of Intermediaries and their salespersons and guests in connection with educational, sales and promotional programs; subaccounting, administrative and/or shareholder processing or other investor services that are in addition to the fees paid for these services by the Advisory Accounts or products; and other services intended to assist in the distribution and marketing of the Advisory Accounts and other products. Goldman Sachs may pay for all or a portion of the fees associated with technology platforms that provide access to Goldman Sachs products and services on behalf of financial intermediaries. In addition, Goldman Sachs could hire or dedicate Goldman Sachs employees, or pay all or part of the salaries of employees of financial intermediaries, to provide administrative or other services in connection with investments by clients of such financial intermediaries into Goldman Sachs products. Certain financial intermediaries could receive an economic benefit from investing their client’s assets in Goldman Sachs products and services in the form of revenues received by Goldman Sachs offsetting a payment obligation the financial intermediary would otherwise have to Goldman Sachs.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "61435f44-bba3-4298-ac4b-77cc941c1ace", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.76, "x": 0.12, "y": 0.88 }, "kind": "paragraph", "text": "These payments may differ by Intermediary and are negotiated based on a range of factors, including but not limited to, ability to attract and retain assets, target markets, customer relationships, quality of service and industry reputation.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cab21166-d0d7-468a-a80c-8156dbd90986", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.76, "x": 0.12, "y": 0.21 }, "kind": "paragraph", "text": "From time to time, the Registrants may make payments for client referrals to affiliated and unaffiliated persons in accordance with applicable laws.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e3807d06-3dc9-4122-9e25-d639612038d7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.5, "x": 0.12, "y": 0.14 }, "kind": "title", "text": "Item 14 – Client Referrals and Other Compensation", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2ca631e2-511a-49e7-993d-1d165a9535df", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 150, "from": 101, "beatId": "2ffbac36-9b13-45f3-ad44-b7c15a73d480", "arcName": "The Consultant's Gambit", "arcSlug": "consultants-gambit", "beatName": "Impact & Next Steps", "beatSlug": "consultants-gambit-impact-next-steps", "evidence": "The document concludes with information about the firm's code of ethics, participation or interest in client transactions, and other regulatory disclosures.", "position": 4, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }