The Globe and Mail reports in its Tuesday edition that Goldman Sachs is selling part of its wealth business to independent wealth manager Creative Planning. A Reuters dispatch to The Globe reports that Goldman did not disclose the sale price. It expects the sale to close in the fourth quarter and result in a gain. The latest sale is part of a shift in strategy after chief executive officer David Solomon reorganized the firm into three units last year and scaled back ambitions for its consumer business, which lost $3-billion (all figures U.S.) in the last three years. Goldman bought the registered investment adviser (RIA) for $750-million in 2019 when it managed about $25-billion in funds. Creative Planning has $245-billion in combined assets under management and advisory. The RIA business was relatively small in size compared with Goldman's core business that focuses on the superrich. Goldman's private-wealth arm oversees $1-trillion in assets for ultrahigh-net-worth clients, who have $60-million or more in investable assets. High-net-worth individuals -- who would fall within the business Goldman is considering selling -- typically have about $1-million to $10-million to invest.