The Ayco Company, L.P.
The Ayco Company, L.P. is a fee-based advisory firm that has been part of The Goldman Sachs Group since 2003. Ayco is headquartered in Cohoes, New York, though its advisory services are also available through offices of affiliate Goldman Sachs & Co. LLC.
Ayco manages assets for non-high-net-worth and high-net-worth individuals, as well as pension and profit-sharing plans, charitable organizations and corporations. The firm offers employer-sponsored financial counseling, investment management and family office services. Most of its advisors are also broker-dealer representatives and many are insurance agents, too.
The Ayco Company Background
The Ayco Company’s unusual name comes from combining the first two letters of the surnames of its founders, Bill Aydelotte and Jim Conway. Formed in 1971, the company originally offered corporate-sponsored financial counseling to executives, but it expanded to all employees a decade later. As mentioned earlier, Goldman Sachs became the primary owner of the firm in 2003.
The Ayco Company Client Types and Minimum Account Sizes
The Ayco Company doesn't impose an account minimum for clients who receive discretionary management. However, the wrap fee program the firm sponsors requires a minimum investment of $100,000 while family office services also require a minimum investment. Financial counseling clients are not required to open an investment account.
The firm’s institutional clients include endowments, public charities, private foundations and other nonprofit organizations through Ayco Institutional Client Solutions, or Ayco ICS. For these clients, there is a $2 million investment minimum.
Services Offered by The Ayco Company
The Ayco Company offers a wide range of financial services tailored to individual, family and corporate needs. Their services include comprehensive financial planning, which covers estate, tax and retirement planning, as well as investment management. Ayco provides tailored advice to corporate executives, high-net-worth individuals and employees of corporate partners, offering programs such as Executive Wealth, Financial Wellness and Personal Planning.
Ayco also manages wrap fee accounts and discretionary and non-discretionary investment portfolios through its Private Access Account Strategies, giving clients access to various managers and asset classes. Additionally, Ayco offers specialized services like Family Office support, philanthropic planning, and survivor benefits assistance.
The Ayco Company Investing Philosophy
The Ayco Company employs a client-centered, research-driven investment philosophy that emphasizes tailored asset allocation and diversification. Ayco Wealth Advisors use strategic and tactical models created by Goldman Sachs’ Investment Strategy Group (ISG) to build client portfolios. Ayco's investment strategies include structured investment products, equities, fixed-income securities and alternatives like options and private equity.
Additionally, Ayco integrates environmental, social and governance (ESG) factors where relevant. Portfolios are monitored and periodically rebalanced to align with clients' risk profiles and objectives, aiming to achieve growth, income, and capital preservation across diverse market environments?
Fees Under The Ayco Company
Ayco charges fees for financial planning services that vary depending on the client’s needs and arrangements with Corporate Partners. Generally, Ayco’s annual financial planning fees for individual clients range from $2,500 to $100,000, with adjustments for regional factors or specific office locations. Clients affiliated with Corporate Partners may receive discounted or waived fees, depending on corporate agreements. Additionally, Ayco offers hourly rates for financial planning, typically between $280 and $600. For specialized Private Family Office services, Ayco charges a minimum annual fee of $125,000, plus any setup fees for customized services?.
Ayco generally charges investment management fees as a percentage of assets under management, with the specific rate determined by the investment strategy chosen. Clients enrolled in the firm's wrap fee program will pay an asset-based fee that can range from 0.74% to 1.34%, based on the asset classes they hold in their portfolios.
What to Watch Out For
In its most recent SEC filings, The Ayco Company reported 17 disclosures.
Because many Ayco advisors are also broker-dealer representatives and/or insurance agents, they may earn sales commissions on certain transactions. While this creates a potential conflict of interest the firm must always act in your best interests.
Opening an Account with The Ayco Company
To become a client of The Ayco Company, try calling (518) 886-4000. You can also stop by the firm's Cohoes, New York, headquarters or one of its office locations in:
- Atlanta, GA
- Canonsburg, PA
- Newport Beach, CA
- Philadelphia, PA
- Irving, TX
- Houston, TX
- Deerfield, IL
- Miami, FL
- Chicago, IL
- Boston, MA
- Saratoga Springs, NY
- San Francisco, CA
- Washington, D.C.
- West Palm Beach, FL
- New York, NY
- Minneapolis, MN
- Parsippany, NJ
- Troy, MI
- Seattle, WA
- Westport, CT
- Charleston, SC
- Austin, TX
- Dallas, TX
- Boulder, CO
All information is accurate as of the writing of this article.
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- Ask candidates what they sell besides advice. Ideally, advisors only sell advice – and they collect their fee-only compensation from clients. But some advisors also sell insurance or financial products – and receive commissions from vendors on top of client fees. This creates a conflict of interest that they should disclose when recommending products that pay them commissions.
