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Dynasty Financial Partners Marks 2-Year Anniversary
[December 20, 2012]

Dynasty Financial Partners Marks 2-Year Anniversary

Dec 20, 2012 (Close-Up Media via COMTEX) -- Dynasty Financial Partners said it is celebrating its two-year anniversary this month with an expanding network of advisory firms and more than $13 billion in assets under advisement.

According to a release, as a result of this significant growth and momentum in assets and advisors, Dynasty is now considered one of the fastest growing financial services companies in the industry.

Shirl Penney, President and CEO of Dynasty Financial Partners, said, "It has been a remarkable two years. We are pleased that those teams that have been part of our network for more than 12 months have, on average, 120 percent of the assets they had when they broke away from their previous firms. Two of our firms have more than doubled their assets during their partnerships with Dynasty. Our ability to allow our advisors to become institutional 'clients of the Street' in order to execute strategies on behalf of their clients has proven to be an important differentiator for our teams." Dynasty Financial Partners said it now has 15 firms in its network with plans to limit its size to no more than 150 elite firms. Those 15 firms have over 40 advisor partners who manage 21 offices across the U.S.

"It has been remarkable to witness the rapid acceptance of Dynasty's unique SMA program," said Bill Crager, President of Envestnet. "Dynasty's investment division is one of the fastest growing businesses we have seen, and we are excited by the future prospects of our partnership with them." In the industry, the company added, RIAs are growing as a proportion of all advisors as they continue to shift toward the independent business model. At the end of 2010, RIAs represented 7 percent of all advisors and are projected to grow by 13 percent by the end of 2012 according to Cerulli Associates. By 2015, Cerulli estimates that there will be more assets in the independent channel versus the traditional wirehouse and private bank channels.

"We are gratified that our strategy to 'power independence' for elite advisory firms is resonating so strongly with teams looking to break away from large brokerages as well as already independent firms," said Todd Thomson, Chairman of Dynasty. "It seems that many of the best firms in the industry value our ability to customize their platform, provide access to the industry's leading products, deliver institutional quality research and manager access, provide lending, trust and insurance solutions, and create a community of like-minded independent firms to share ideas and expertise." According to Dynasty Financial Partners' Chief Operating Officer, Ed Swenson, "What is so exciting for us is that we are helping to power the American dream of business ownership by enabling advisors to be truly independent and helping them to establish their own firm, brand, business strategy and client coverage model. With Dynasty, we make it easier by helping advisors get all the benefits of independence while working behind the scenes to make it easier for them to have their own businesses." One of the attractions of independence for advisors is building the equity value of their business. "Advisors can build up the value of their firm over time and to monetize their large client base and AUMs," said Penney.

Dynasty added that it is unveiling its new website, which will include video, enhanced graphics and a special section for advisors considering independence at More information: ((Comments on this story may be sent to [email protected]))

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