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Industry Spotlight > Women in Wealth

Dynasty Financial Launches Best-in-Class Wealth Management Platform

By Michael S. Fischer

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Dynasty Financial Advisors has rolled out a comprehensive platform of best-in-class wealth management solutions, tailored for independent financial advisors serving wealthy clients with sophisticated needs, the firm announced Monday.

Dynasty also announced that Michael Brown and key members of his team have come on board from U.S. Trust, Bank of America/Merrill Lynch’s private wealth management division, where Brown was managing director and wealth advisor. At Dynasty, he will serve as partner and director of wealth management.

“Mike and his team are widely recognized as among the best wealth management advisors in the country, and we are extremely excited about them joining Dynasty,” Dynasty’s president and chief executive Shirl Penneysaid in the statement. “The firm, our senior advisory team and the independent advisors who partner with Dynasty will benefit greatly from the depth of knowledge and experience Mike and his team have advising sophisticated clients.”

Dynasty uses an open architecture approach to wealth management and has partnered with top-tier vendors in the industry in areas such as reporting, investment research, trusts and estate planning, insurance, capital markets and custodial facilities.

“The high quality and breadth of Dynasty’s platform were major factors in my decision to join the firm,” Brown said in the statement. “The platform provides access to a broader array of services for our clients and solutions more tailored to their needs. Being part of an independent platform will also allow us to spend more time on client service and to act as true fiduciaries.”

Penney said Dynasty has been able to negotiate preferential contracts with its vendor partners and offer products and solutions to independent advisors at a lower cost than is available elsewhere. The firm also offers comprehensive support to its advisor partners to help them optimize the platform to meet their clients’ needs.

 “We have created this platform in such a way that current independent advisors can access the entire platform or only those components that would most benefit their clients,” Dynasty board chairman Todd Thomson said in the statement. “For the increasing number of sophisticated financial advisors seriously considering establishing their own independent businesses, in Dynasty they now have a partner who can provide a cost-effective, turn-key platform.”

According to Penney, Dynasty’s business model and fee structure are designed to ensure that investment advisors can serve their clients without the limitations that exist within wire houses and banks. “Our core principle is ‘objectivity without compromise,’” said Penney, “which means that we are committed to providing solutions that allow investment advisors to act as true fiduciaries to their clients.”

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