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Goldman to Sell Duran’s Unit

Buyer is Creative Planning

Goldman Sachs is selling a unit it purchased for $750 million from Newport Beach founder Joe Duran.

The buyer will be Creative Planning LLC; the deal is expected to close in the fourth quarter and result in a gain. Creative Planning has more than 2,100 employees across its affiliates and $245 billion in combined assets under management and advisory.

Duran began United Capital Financial Planners in 2005 and built it to $25 billion in assets before selling it in 2019 to Goldman Sachs, which was using it to target people with around $10 million in wealth.

Duran’s LinkedIn page said he left Goldman Sachs in May. According to Citywire, Duran is pursuing a capital raise for a new business venture that will take minority stakes in registered investment advisories.

Goldman Sachs said it will return to focus on servicing the super rich.

 

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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