Clever Goldman Sachs, always the sharpest knife in the financial drawer, is setting up a family office venture for its own wealthy partners. It will also be open to the bank’s clients as well.

One must praise this significant development. Frankly, you always have to have confidence in a bank’s top executives who put their money where their mouth is. As a client, how nice to know that Goldies’ partners are in roughly the same boat as you, in fair weather or a Force 9 hurri...