GOLDMAN SACHS ASSET MANAGEMENT AND T. ROWE PRICE DEBUT FIRST JOINT PRODUCT OFFERINGS

Rhea-AI Summary

T. Rowe Price (TROW) and Goldman Sachs Asset Management launched the first co-branded model portfolios on Dec 15, 2025, marking the initial product rollout from their strategic alliance announced in September.

Four portfolios are live on the GeoWealth UMA platform for RIAs using mutual funds and ETFs; a fifth High Net Worth portfolio is expected in the first half of 2026 and will include direct indexing and evergreen alternatives. Portfolios combine funds from both firms and will be supported by >200 wholesalers and dedicated model specialists.

Positive

• Four model portfolios launched on GeoWealth UMA (Dec 15, 2025)
• High Net Worth portfolio expected to launch in H1 2026
• Portfolios combine funds from T. Rowe Price and Goldman Sachs
• Advisor distribution backed by 200+ wholesalers and model specialists
• MULTI‑ASSET SOLUTIONS (MAS) OCIO team to manage diversified portfolios

Negative

• None.

News Market Reaction

-1.22%

1 alert

-1.22% News Effect

On the day this news was published, TROW declined 1.22%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Model portfolios launched: 4 portfolios Future HNW portfolio: 1 portfolio Wholesaler support: 200+ wholesalers

3 metrics

Model portfolios launched 4 portfolios Initial co-branded offerings on GeoWealth platform for RIAs

Future HNW portfolio 1 portfolio Expected launch in first half of 2026 for high-net-worth clients

Wholesaler support 200+ wholesalers Combined advisor coverage from both firms for model portfolios

Market Reality Check

Price: $92.02 Vol: Volume 1,471,946 is at 0....

normal vol

$92.02 Last Close

Volume Volume 1,471,946 is at 0.81x the 20-day average of 1,806,290, indicating subdued activity ahead of this news. normal

Technical Shares at $104.90 were trading above the 200-day MA of $99.46, suggesting a pre-existing upward bias before the announcement.

Peers on Argus

Ahead of this news, key asset management peers like CG -2.86%, TPG -2.58%, and O...

Ahead of this news, key asset management peers like CG -2.86%, TPG -2.58%, and OWL -3.10% were under pressure, while TROW was nearly flat at -0.06%, indicating relatively resilient trading versus peers.

Historical Context

5 past events · Latest: Dec 11 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 11	Private lending fund	Positive	+1.4%	Final close of $17.7B senior private lending strategy and $8B equity.
Dec 11	ETF product launch	Positive	+1.4%	Launch of active core U.S. and international equity ETFs with fee waivers.
Dec 10	AUM and flows update	Neutral	-1.7%	Reported $1.79T AUM and $8.0B net outflows for November 2025.
Dec 08	Retirement survey	Negative	-1.9%	Global retirement survey highlighting saver concerns and expectations.
Dec 01	Portfolio company financing	Positive	-0.8%	Omni Fiber secured $200M debt and equity for network expansion.

Pattern Detected

Recent history shows TROW often trading higher on product growth or capital-raising news, while AUM and survey data have coincided with softer share performance.

Recent Company History

Over the past few weeks, T. Rowe Price has reported several growth and positioning updates. On Dec 11, it highlighted a $17.7B senior private lending strategy and launched new active core ETFs with fees waived through Jan 30, 2027, both coinciding with +1.35% moves. Earlier, November AUM of $1.79T and net outflows of $8.0B on Dec 10 and a global retirement survey on Dec 8 saw negative reactions. Today’s joint model portfolio launch fits the ongoing theme of expanding product breadth across wealth channels.

Market Pulse Summary

This announcement highlights a strategic alliance between Goldman Sachs Asset Management and T. Rowe...

Analysis

This announcement highlights a strategic alliance between Goldman Sachs Asset Management and T. Rowe Price to offer co-branded model portfolios, initially with 4 portfolios on the GeoWealth platform and a fifth expected in the first half of 2026. It continues a recent stream of product and distribution initiatives, including new ETFs and lending strategies. Investors may watch how advisor adoption, assets gathered into these models, and future AUM updates interact with this expanded wealth-channel footprint.

Key Terms

registered investment advisors ("rias"), etfs, direct indexing, outsourced chief investment officer (ocio), +1 more

5 terms

registered investment advisors ("rias") financial

"serving Registered Investment Advisors ("RIAs"). Through GeoWealth's flexible"

Registered investment advisors (RIAs) are firms or individuals legally registered with a securities regulator to give personalized investment advice and manage clients’ money while operating under a legal duty to act in clients’ best interests. Think of an RIA as a paid, licensed financial guide required to disclose fees and conflicts, which matters to investors because it promotes clearer cost information, greater accountability and decisions made for the client’s benefit rather than the advisor’s profit.

etfs financial

"full spectrum of diversified portfolios, utilizing mutual funds and ETFs."

ETFs, or exchange-traded funds, are investment funds that hold a collection of stocks, bonds, or other assets, and can be bought or sold on stock exchanges like individual shares. They offer investors an easy way to diversify their holdings and access different markets or sectors without buying multiple individual assets. Because they are traded throughout the day, ETFs provide flexibility and can help investors manage risk while pursuing their financial goals.

direct indexing financial

"aiming to deliver flexible portfolios incorporating direct indexing and evergreen"

Direct indexing is a way for investors to own the individual stocks that make up an index instead of buying a single pooled fund, allowing customization of holdings, tax management, and cost control. It matters because it lets investors tailor exposure—like removing certain companies or harvesting tax losses—while still tracking broad market performance, similar to building a personalized playlist rather than listening to a pre-set radio station.

outsourced chief investment officer (ocio) financial

"whose outsourced chief investment officer (OCIO) group is recognized"

An outsourced chief investment officer (OCIO) is an outside firm or individual hired to design and run an organization’s investment program instead of using internal staff. Think of it like hiring a professional driver to steer a car you own: the OCIO makes day‑to‑day investment choices, sets risk limits and selects managers, which directly affects returns, costs and how well the portfolio meets the owner’s financial goals — information investors use to judge performance and risk.

unified managed account (uma) financial

"offers these model portfolios on its unified managed account (UMA) platform."

A unified managed account is a single investment account that combines multiple strategies and holdings—such as stocks, bonds, funds and cash—under one professional management plan. Think of it like a single folder that keeps many different documents organized and updated together; it gives investors consolidated statements, easier rebalancing and potential tax advantages, so they can see and control a diversified portfolio without juggling many separate accounts.

AI-generated analysis. Not financial advice.

Firms launch model portfolios designed to meet a range of investor needs

NEW YORK and BALTIMORE, Dec. 15, 2025 /PRNewswire/ -- Goldman Sachs Asset Management and T. Rowe Price today announced the launch of co-branded model portfolios for the initial phase of the firms' joint product offerings. The models are the first products to come to market since the firms announced a strategic alliance in September. Leveraging the firm's respective strengths, these collaboratively created model portfolios are tailored to meet the needs of advisors serving mass-affluent and high-net-worth (HNW) clients.

Four of the model portfolios have debuted on the GeoWealth platform serving Registered Investment Advisors ("RIAs"). Through GeoWealth's flexible technology platform, RIAs can offer clients a full spectrum of diversified portfolios, utilizing mutual funds and ETFs. A fifth model portfolio is expected to launch in the first half of 2026, aiming to deliver flexible portfolios incorporating direct indexing and evergreen alternative funds for high-net-worth investors.

"T. Rowe Price shares our commitment to delivering results for investors and we are excited to begin our product rollout. Our goal is to combine the expertise of both firms through these portfolios, and we look forward to expanding our offerings in the wealth channel to help more investors to reach their long-term goals," said Greg Wilson, Co-Head Americas Third Party Wealth, Global Head of Retirement, Asset & Wealth Management.

"By combining the strengths of our two firms, the model portfolios are designed to help clients achieve better outcomes. This collaboration represents a meaningful step forward in providing advisors and investors with greater confidence and guidance in navigating today's markets," said Kevin Collins, Head of U.S. Intermediaries.

The five co-branded and combined distribution model portfolios include the following: 

• Goldman Sachs T. Rowe Price Dynamic ETF Portfolio
• Goldman Sachs T. Rowe Price Tax-Aware Dynamic ETF Portfolio
• Goldman Sachs T. Rowe Price Dynamic Hybrid Portfolio
• Goldman Sachs T. Rowe Price Tax-Aware Dynamic Hybrid Portfolio
• Goldman Sachs T. Rowe Price High Net Worth Portfolio (expected to launch in the first half of 2026)

The collaboration between Goldman Sachs Asset Management and T. Rowe Price brings together two of the top active investing organizations in the asset management industry. The Goldman Sachs Asset Management Multi-Asset Solutions (MAS) team, whose outsourced chief investment officer (OCIO) group is recognized as the #1 OCIO team in the United States[1], manages the diversified portfolios across asset classes and factor exposures. The portfolios will be composed of funds from T. Rowe Price and Goldman Sachs Asset Management. Advisors can receive combined and coordinated support and resources from the two companies' 200+ wholesalers, home office team members, and dedicated model specialists.

GeoWealth offers these model portfolios on its unified managed account (UMA) platform. In partnership with Goldman Sachs Asset Management and iCapital, GeoWealth also offers RIAs the ability to seamlessly build and manage public and private market portfolios in a single account through the firm's open architecture and personalize and rebalance at scale.

ABOUT GOLDMAN SACHS ASSET MANAGEMENT

Goldman Sachs Asset Management is the primary investing area within Goldman Sachs, delivering investment and advisory services across public and private markets for the world's leading institutions, financial advisors, and individuals. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity, alternatives, and multi-asset solutions. Goldman Sachs oversees approximately $3.5 trillion in assets under supervision as of September 30, 2025. Follow us on LinkedIn.

ABOUT T. ROWEPRICE

T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.79 trillion in client assets as of November 30, 2025, about two-thirds of which are retirement-related. Renowned for over 85 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its longstanding expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amidst evolving markets. Visit troweprice.com/newsroom for news and public policy commentary.

This press release is not an offer to purchase or a solicitation of an offer to sell shares of T. Rowe Price common stock. All investments involve risk, including possible loss of principal.

¹ Cerulli U.S. Outsourced Chief Investment Officer Function 2025 Report. Cerulli tabulated the data as of 12/31/24. This award was published on November 20, 2025.Goldman Sachs Asset Management's, and Cerulli products are not related, and Cerulli have not endorsed either Goldman Sachs Asset Management or its products. Awards don't represent compensated endorsements. Past performance is no guarantee of future results, which may vary.

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SOURCE T. Rowe Price Group

FAQ

What model portfolios did T. Rowe Price (TROW) and Goldman Sachs launch on Dec 15, 2025?

They launched four co-branded portfolios: Dynamic ETF, Tax-Aware Dynamic ETF, Dynamic Hybrid, and Tax-Aware Dynamic Hybrid.

When will the T. Rowe Price and Goldman Sachs High Net Worth portfolio (TROW) launch?

The High Net Worth portfolio is expected to launch in the first half of 2026 and will include direct indexing and evergreen alternatives.

How can RIAs access the Goldman Sachs and T. Rowe Price model portfolios?

RIAs can access the four live model portfolios on the GeoWealth unified managed account platform using mutual funds and ETFs.

Will the T. Rowe Price (TROW) and Goldman Sachs collaboration use funds from both firms?

Yes — the portfolios will be composed of funds from both T. Rowe Price and Goldman Sachs and managed across asset classes by the MAS team.

What distribution support accompanies the T. Rowe Price and Goldman Sachs model portfolios?

Advisors receive coordinated support from the two firms' combined teams, including more than 200 wholesalers and dedicated model specialists.