Burney Company, a Reston, VA-based $2.4 billion registered investment advisor, has added Goldman Sachs Advisor Solutions’ (GSAS) custody service for its alternative assets platform and customized service model.

As Burney expands into additional asset classes, GSAS will become one of several custodians supporting the firm, which has supplied proprietary, quantitative equity investment techniques to individual and institutional clients since 1974.

Part of the attractiveness for many firms choosing GSAS is its expertise in alternative assets such as real estate and private credit.

Half-dozen RIAs with at least $1 billion in assets have announced collaborations with GSAS since May, including $210 billion Creative Planning last month.

“GSAS offers a superior alternatives platform, enabling our advisors to access sophisticated solutions that extend beyond the traditional 60/40 model,” said managing partner, Adam Newman.

“By using GSAS’ platform to execute a cost-efficient alternatives strategy, we’re better able to serve the financial objectives of our clients’ unique needs.”

This year has seen an increase in custody activity, with Goldman announcing collaborations with $5.7 billion RIA NewEdge Wealth and $20 billion RIA Prime Capital, among others.

Goldman is a relative newbie to the custody sector. Its GSAS division arose from its parent company’s purchase of Folio Financial, a self-clearing custodian with $11 billion in assets, in May 2020.