Dynasty Financial Partners says it is launching a new group to help partner firms of registered investment advisors with more than $1 billion in client assets. The Dynasty Enterprise Group will focus on the business growth opportunities and challenges facing larger RIAs and be led by Ed Friedman and Gordon Ross.
The group will stage its first best-practices workshops in July. The series of events aim to help firms with at least $1 billion boost the scale and efficiency of their businesses, according to Dynasty, which supports a middle- and back-office platform for 45 RIAs and over $30 billion in assets under advisement.
“It is no secret that the tectonic plates beneath our industry are shifting, and that both advisors and client assets continue to migrate towards independence,” said Dynasty President and CEO Shirl Penney, in a statement. “DEG’s mission is to help billion-dollar-plus RIAs check all of these boxes so that they may reach $5 billion, $10 billion and beyond.”
The firm says that five member RIAs are now part of DEG, such as Summit Trail Advisors, which has some $5 billion in client assets. (Other Dynasty partners have over $1 billion in assets but are not yet working with the new unit.)