Dynasty Rolls Out M&A Platform for RIAs

By Janet Levaux

News May 31, 2019 at 03:35 PM

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Dynasty Financial Partners has launched a new M&A platform for RIAs.

The platform, Dynasty Connect, aims to help advisor firms with vetting and due diligence of potential business partners, financing, negotiation, transaction structure, post-merger integration and related issues.

In addition, Dynasty says many of the 47 firms in its network — which have a total of $35 billion in client assets — have "ambitious inorganic growth plans" and could be potential partners for advisors looking to switch firms or sell their businesses. (Over the past two years, Dynasty-affiliated firms have struck 15 deals tied to $7.2 billion in assets under advisement.)

"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," according to Dynasty President and CEO Shirl Penney, referring to Chief Operating Officer Ed Swenson.

"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," Penney added.

Dynasty Connect will be led by Joe Rizzo, director of M&As.

In mid-May, four advisors formerly employed by UBS formed Great Diamond Partners, an independent firm affiliated with Dynasty, in Portland, Maine.

That news came three months after Dynasty said it planned to move its base out of New York to St. Petersburg, Florida, in the second quarter. It will keep an office in Midtown Manhattan, as well as in Chicago and San Francisco.

— Check out Tibergien Talks M&As, Wells Fargo's RIA Move and Surprising Industry Trends on ThinkAdvisor.