IGM Financial's IG Wealth Management is handing over portfolio management responsibilities for its flagship retail fund to Goldman Sachs Asset Management.

As part of the agreement, Goldman Sachs Asset Management will assume portfolio management responsibilities for the IG Strategic Wealth Portfolios, made up of five portfolios from the suite formerly known as the IG Core Portfolios.

The sub-advisory deal will use Goldman Sachs' open architecture platform which will tap into expertise in managing multi-manager strategies, the company said Tuesday.