Close Close
ThinkAdvisor

Practice Management > Building Your Business

Dynasty Financial Taps RIA Exec for Partner M&As

X
Your article was successfully shared with the contacts you provided.

Dynasty Financial Partners says it has hired an executive to boost its RIA business: Joseph Rizzo, who most recently worked as president of Steward Partners Consulting Solutions.

Rizzo will lead Dynasty’s mergers and acquisitions for partners and will assist them with other strategies and business development.

“We are delighted to have an executive of Joe’s caliber join Dynasty’s leadership team. His deep experience and track record in the wealth management arena will be invaluable to Dynasty and to our Network Advisors as he works to expand their businesses and lead various growth initiatives,” said President & CEO Shirl Penney in a statement.

Rizzo joined Smith Barney as an advisor in 1993. He was an executive director of Morgan Stanley’s Global Wealth Management division from 2004 to 2014, before joining Steward Partners, where he helped entrepreneurs launch independent wealth management firms.

“Having extensive experience working with some of the industry’s top advisors building practice management and professional development programs, I could not be more excited to be joining Dynasty,” explained Rizzo in a statement. Dynasty “continues to widen the gap as one of the industry’s premier platform services companies to some of the industry’s very best RIAs.”

More on this topic

At present, New York-based Dynasty Financial Partners has 38 Network Advisory RIA firms working in 50 offices with more than 100 advisors and over $20 billion of total client assets under advisement.

In January, Claybrook Capital became part of the partnership in Boston. The firm was launched by Jerry Nigro, formerly with Robertson Stephens, along with Virginia Madden.

“Our focus is working with our network of sophisticated RIAs in growing their firms – often through acquisitions,” said Jason Pinkham, director of client service and transitions for Dynasty, in a press release.

“The industry is saturated with firms expressing interest in acquiring existing practices but they tend to be ill prepared,” Pinkham said. “Joe [Rizzo] brings our network a tremendous resource to ensure our firms will be prepared not only for a transaction, but for multiple transactions where opportunities present themselves.”

— Check out 5 Trends Driving Record M&A Activity for RIAs: Dan Seivert on ThinkAdvisor.