{ "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": 23, "pageCount": 183, "prevPage": 22, "nextPage": 24, "slideType": "appendix_disclosure", "function": "other", "density": "overcrowded", "nDataPoints": 0, "notes": "Form ADV page 23", "elementsJson": [ "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5e88-73ef-bd5a-28c72cc9d740/23", "deckHref": "/decks/019dd923-5e88-73ef-bd5a-28c72cc9d740", "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5a-28c72cc9d740.json", "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5a-28c72cc9d740#slide-23", "components": [ { "bbox": { "h": 0.22, "w": 0.74, "x": 0.13, "y": 0.14 }, "kind": "disclaimer", "text": "portfolio company, including that, in the discretion of GSAM, certain Consulting Group members may bear no or reduced management fees or performance-based compensation on all or a portion of (i) their investment in an Advisory Account and (ii) any investment with respect to which they are co-investors. Members of the Consulting Groups may receive compensation and/or indemnification for serving on the board of a portfolio company, which may be paid or provided by a portfolio company or, in certain cases, by the applicable Advisory Account or GSAM. Certain members of a Consulting Group may participate in one or more of the other Consulting Groups and/or serve as advisors to GSAM with respect to investment in and management of portfolio company investments (\"Industry Advisors\"), and, as a result, such members may receive compensation from their participation in each such Consulting Group and/or their services as Industry Advisors. Compensation paid to Industry Advisors and members of Consulting Groups for their services related to an Advisory Account or its portfolio companies will generally be borne by the Advisory Account and will not be offset against management fees.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6ca33a04-f246-4851-b495-faa5f8e34184", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.74, "x": 0.13, "y": 0.37 }, "kind": "disclaimer", "text": "To the extent Goldman Sachs provides services to Advisory Accounts not included in the advisory fee, Goldman Sachs will be entitled to retain all such fees and other amounts and no fees or other compensation will be reduced thereby. For additional information about fees for administrative and other services paid to GSAM or its affiliates, please see above in this Item 5, Fees and Compensation—Other Fees and Expenses—Custody, Administration and Other Fees.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c7c620f3-d178-422f-bfa3-50955ba4e1e1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.11, "w": 0.74, "x": 0.13, "y": 0.82 }, "kind": "disclaimer", "text": "GSAM may, in its sole discretion, determine to provide, or engage an affiliate of GSAM to provide, certain services, including, but not limited to, services such as internal legal and accounting services, to Advisory Accounts and their portfolio companies, instead of engaging one or more third parties to provide such services. Subject to the governing documents of a particular Advisory Account, GSAM or its affiliates will receive compensation in connection with the provision of such services. Such compensation may not be negotiated and may be more or less than what a comparable third party might charge. As a result, GSAM faces a conflict of interest when selecting service providers for Advisory Accounts and their", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "eb2348f3-e075-4e16-9a38-d0b2a46adc86", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.74, "x": 0.13, "y": 0.56 }, "kind": "disclaimer", "text": "GSAM, on behalf of Advisory Accounts and their portfolio companies (if any), expects to engage service providers (including attorneys and consultants) that in certain cases also provide services to Goldman Sachs and other clients managed by other parts of Goldman Sachs and their portfolio companies (if any). In addition, certain service providers to GSAM, Advisory Accounts or their portfolio companies are also portfolio companies or other affiliates of GSAM or Advisory Accounts (for example, a portfolio company of an Advisory Account may retain a portfolio company of another Advisory Account). To the extent it is involved in such selection, GSAM intends to select these service providers based on a number of factors, including expertise and experience, knowledge of related or similar products, quality of service, reputation in the marketplace, relationships with GSAM, Goldman Sachs or others, and price. These service providers may have business, financial or other relationships with Goldman Sachs (including its personnel), including being a portfolio company of, or otherwise affiliated with, GSAM, Goldman Sachs, or an Advisory Account. These relationships may influence GSAM's selection of these service providers for Advisory Accounts or their portfolio companies. In such circumstances, there is a conflict of interest between GSAM, Goldman Sachs, and the Advisory Accounts (or their portfolio companies) or between Advisory Accounts (or their portfolio companies) if the Advisory Accounts (or their portfolio companies) determine not to engage or continue to engage these service providers.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f7e66043-0227-482d-a695-07cb195857b3", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.74, "x": 0.13, "y": 0.48 }, "kind": "disclaimer", "text": "GSAM licenses, for a fee, the Software Platform to other Institutions. Such fee may be paid as a license fee to GSAM or may be included in any Institutional Fees or Workplace Managed Account Fees received by GSAM.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fdef3fe4-19ec-4d8b-981d-57d73d9f5af7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.22, "x": 0.13, "y": 0.53 }, "kind": "title", "text": "Selection of Service Providers", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "65348ba9-eef2-474c-a823-a15c06fa1f1f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.12, "x": 0.13, "y": 0.45 }, "kind": "title", "text": "GSAM Software", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6deb41b6-58cb-4bbe-8042-ae649a23776e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.25, "x": 0.13, "y": 0.09 }, "kind": "title", "text": "Goldman Sachs Asset Management", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b402779a-7d44-4fec-b5d3-3b19bc24d582", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 50, "from": 21, "beatId": "1aa218e4-2433-4634-8147-937f217e5111", "arcName": "The Consultant's Gambit", "arcSlug": "consultants-gambit", "beatName": "Solution & Approach", "beatSlug": "consultants-gambit-solution-approach", "evidence": "Goldman Sachs Asset Management describes its advisory business, investment strategies, and risk management approaches in detail.", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }