Dynasty Financial Partners has launching Dynasty Connect, a new division reporting to Chief Operating Officer Ed Swenson which will support independent financial advisory firms in private M&A transactions.
Joe Rizzo, Director of Mergers & Acquisitions for Dynasty, is responsible for managing the Dynasty Connect platform.
Swenson says: “Dynasty Connect is one of the fastest growing segments of Dynasty. There is a perfect storm for RIAs seeking to acquire: an ageing adviser population, breakaway advisers seeking independence without wanting to run an RIA, and the ability to make strategic deals that create a competitive advantage and unlock scale. In addition, more and more wirehouse advisors are choosing independence as the best way to exercise their succession plans and to maximise the economics of their life’s work – while at the same time being sure to not trap their junior partners and clients into an unpredictable financial situation going forward.”
Dynasty Financial Partners now has 47 Network advisory firms who, among them, manage more than USD35 billion in aggregate client assets. Many of the Dynasty network firms have ambitious inorganic growth plans and may be potential partners for advisors who are looking to join a firm or sell their business as part of a succession plan.
“I could not be more excited about the launch of Dynasty Connect,” says Dynasty President and CEO Shirl Penney. “I am delighted to see Ed and the team’s vision come to life in having an integrated offering of services to provide support for advisors looking to buy or sell their advisory business. The combination of existing Dynasty Capital Strategies (DCS), with its lending and Revenue Purchasing options, and Dynasty Connect, when leveraged alongside of Dynasty’s Core Services and Investment Platform, creates one of the most unique M&A and RIA service capability sets available anywhere in the industry. We expect this to be the third leg of our growth, adding to our efforts in supporting organic growth of our existing RIA clients and selectively adding new advisory firms to our growing network.”
