Dynasty Financial Partners said Icon Wealth Partners is now using its platform in Houston.
Having previously managed over $750 million in client assets at their prior firms, Icon’s three founding partners—Mark McAdams, Blake Pratz and Steve Schwarzbach—decided to go independent recently with Dynasty.
Pratz had previously worked at UBS, while McAdams and Schwarzbach were with Morgan Stanley Private Wealth Management.
“We are honored to welcome Blake, Mark and Steve along with their team to the Dynasty community. Icon Wealth Partners immediately becomes one of the largest financial advisory firms in Texas with the intent to attract seasoned, like-minded advisors seeking independence,” said Shirl Penney, CEO of Dynasty Financial Partners, in a statement.
In addition, with over two decades of experience, Ricardo Mihaly joined Icon Wealth Partners as a senior director of planning and investments. The group’s service and client relationship management team members are Cindy Pickett and Jennifer Moore, formerly with UBS, and Annette Latigue, who used to be with Morgan Stanley.
“At Icon Wealth Partners, we look forward to partnering with Dynasty to bring the industry’s best resources to our clients. We all feel passionately that we can serve our clients’ needs better as an independent firm. There is a tremendous potential for us to now broaden our existing relationships and develop new ones,” explained Schwarzbach, in a press release. “We believe strongly that the independent model is the best way for us to grow our business, both organically and inorganically.”
Dynasty Financial Partners also said Wednesday that newly-formed Crescent Wealth Advisory has joined it in Atlanta; Crescent Wealth Management, a sister firm, was launched by Tim Wyrobek and Jeff Taylor in 2003 as a life insurance consultancy.
“As a management team with deep experience working with high net worth families and family offices, we are pleased to expand our business into asset and investment advisory services through the launch of Crescent Wealth Advisory,” said Wyrobek, in a statement.
“Working with Dynasty Financial Partners, we are positioning our new firm for rapid future growth. Our partnership with Dynasty will also enable us to seize opportunities to expand our distinctive business model and become an attractive destination for top advisors to serve their clients,” he explained.
Crescent will work with Dynasty on plans to “optimize the organic growth” of its RIA, and position Crescent “as a desired destination, throughout the Southeastern U.S., for advisors to join and grow their wealth management practices,” according to a press release.
“Tim and Jeff have extraordinary experience in working with wealthy clients and their families on developing long-range planning strategies. It’s a natural evolution for them to leverage their deep connections with their clients to expand their business into asset and investment advisory services,” said Penney, in a statement.
“Many banks and insurance companies are seeking to enter the RIA market, and we are very selective when choosing our partners. We are proud to welcome Crescent Wealth Advisory as a Dynasty Network Advisory Firm,” she added.
Ameriprise Financial says that eight advisors recently joined it with about $644 million in combined assets under management. Some of the advisors joined from wirehouses like UBS and Wells Fargo, while others joined from smaller broker-dealers.
The new Ameriprise reps are as follows:
Thomas Dattilo of Beachwood, Ohio, joined the employee channel from UBS with some $147 million in assets.
Gartenhaus Financial, which includes Howard Gartenhaus, Matthew Zukergood, Howard Perlroth and Bryan Beamer, of Rockville, Maryland, move to the independent channel from Kestra Investment Services, with about $168 million in AUM.
Dorne Hall of Sandy, Utah, and his team, are now in Ameriprise’s franchise channel after leaving MSI Financial Services with $160 million.
Mark Stegmann of Chesterfield, Missouri, joins the employee channel from Wells Fargo Advisors. He has $91 million in assets.
Phillip Johnson of Mason City, Iowa, is part of the franchise channel after departing from Woodbury Financial Services, with roughly $78 million.
GW&K Investment Management recently named Robert L. Gray, James M. McCarthy, and Brian T. Moreland as partners.
“In an investment environment that continues to change and present new challenges, we are happy to have professionals of their caliber help us provide a broad spectrum of top-tier investment solutions and resources for our clients,” said GW&K CEO & CIO Harold G. Kotler, in a statement. “We look forward to their continued success.”
In 2015, for the second time in three years, GW&K received the Fixed Income SMA Manager of the Year award for its Enhanced Core Bond portfolio from Investment Advisor magazine.