January 21, 2022
Louis Diamond Quoted
By Janice Kirkel
Analysts say the decision by Dynasty Financial Partners, the St. Petersburg, Florida-based RIA and turnkey asset management platform with $65 billion in client assets, to launch a $100 million IPO is what would be expected from a firm that has undergone measured rather than explosive growth with managers who have significant experience in the public markets.
And an IPO provides “a more permanent capital solution rather than private equity, which is less patient,” said industry recruiter Lou Diamond of Diamond Consultants in Morristown, New Jersey. “It’s just more capital for Dynasty to deploy since their main business is helping wirehouse advisors break away.”