A Goldman Sachs former managing director made big news headlines with his remarks on why he is ending his relationship at one of the most “prestigious” investment banks in the world. The reason? He said that the culture at GS was the worst it has been in years and employees care more about making money FROM its clients than making money FOR its clients. It always shocks me when I hear statements like these, even though I know that this is the culture of the day at these large firms. It makes it more important than ever that a wealthy individual that wants his money managed really do his/her due diligence on the investment management firm they are thinking of hiring. Honestly, that is why we decided to start our family office because we could easily see that most retail investors were not getting the best service that they could and trust was going out the window between advisers and their clients.Its a sad day when you can not even trust the famous large institutions to work in your best interest.