Louis Diamond Quoted – By Janice Kirkel, Financial Planning – 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.
Louis Diamond Quoted – By Jeff Benjamin, InvestmentNews – Dynasty Financial Partners is turning to the public equity markets to support its strategy of helping wirehouse representatives break away to become independent financial advisers. “The IPO is very exciting as a further validation of the success of the RIA space,” said Louis Diamond, president of Diamond Consultants.
By Mindy Diamond, Forbes.com – Change is typically motivated by a combination of pushes and pulls. Yet in the case of financial advisors managing $1B+, those factors are even greater. What are some of the common motivations for these advisors to consider change?
After building a $1.2B business at UBS, Matt Kilgroe and his team found they were limited in what they could do for their clients. So in June of 2020, amidst the pandemic, they launched RIA Cyndeo Wealth Management and haven’t missed a beat.
Andy Schwartz went from selling insurance at Northwestern Mutual to managing $3.5B in assets and leading one of the firm’s largest groups. In 2014 they left to go independent as Bleakley Financial Group, now managing $8B in assets as a hybrid RIA.
Louis Diamond Quoted – By Andrew Foerch, Citywire – Dynasty Financial Partners will begin making minority equity investments in its partner RIAs, entering the mergers and acquisitions market for the first time. Through a new initiative dubbed the Minority Investment Capital Program, Dynasty will use cash from its balance sheet to buy stakes of less than 50% in RIAs on its platform. Louis Diamond, president of advisor recruiting and consulting firm Diamond Consultants, said the move was a ‘natural evolution’ of Dynasty’s model.
Changing firms or models comes with some risk, one of the most critical being client portability. It was a risk that this 26-year UBS veteran and his $530mm team found was worth taking to better serve their clients without conflict and limitations. Guest Steven Tenney, Founding Partner and CEO, Great Diamond Partners.
While comfortable at UBS a decade ago, Ahmie Baum started to see things a bit differently when his son Brian joined the business. It was an awakening that made this wirehouse veteran reevaluate everything, and propelled his leap to independence.
By Asia Martin, WealthManagement.com – Blue Bell, Penn. has a new registered investment advisor in town. Dynasty Financial Partners announced Tuesday it helped a former Merrill Lynch team that managed $1.2 billion in client assets, and generated $6.1 million in revenue, launch Amplius Wealth Advisors.
By Investment News – A four-adviser team managing $1.25 billion at Merrill Lynch has left the wirehouse to form Amplius Wealth Advisors in Blue Bell, Pennsylvania. The new firm has affiliated with Dynasty Financial Partners.
Recent News & Articles
- Industry Update: Should You Consider a Move When Markets are Turbulent?
- Should FAs Be Tested for Cognitive Decline?
- The Path to Independence: 6 Key Elements to Consider Before Starting Your Journey
- Ex-Merrill ACTM Chair to Independent Business Owner: A Former Insider’s Point of View
- UBS Comp Changes Make It Harder to Battle Asset Outflows–Analysis
Subscribe for Updates
Get updated by email when a new article is added.