$1.2B UBS Team Goes Indie With Dynasty
The team is based in Florida; Dynasty also grabbed a UBS team with $400 million in Pennsylvania.
Dynasty Financial Partners has helped two teams from UBS go independent with a total of $1.6 billion in assets. One group, with $1.2 billion, is based in St. Petersburg, Florida, while the other has $400 million and is located in Pittsburgh.
The Florida-based team does business as Cyndeo Wealth Partners and is led by Matt Kilgroe, who has nearly 30 years in the business and spent the past eight with UBS.
“I could not be more thrilled to partner with … the entire Cyndeo team,” said Dynasty CEO Shirl Penney, in a statement.
“As one of the largest financial advisory teams in the greater Tampa/St. Pete area, Matt and the Cyndeo team are also deeply committed to the St. Pete community and are well known for their strong support for local causes,” Penney said.
The other seven senior financial professionals working with Kilgroe are Pete Frantzis, Eric Branson, Tommy Kidwell, Ryan Quinty, Adam Hess, Nate Johnson and David Lackore. The group also includes five client relationship managers.
“We had keen interest from our clients for more flexibility surrounding investments and service than we could provide in the wirehouse setting,” according to Kilgroe.
Plus, the team wanted to use “technological tools that allow client data aggregating as well as financial modeling … and to create a strategy around succession planning,” he said.
The name Cyndeo Wealth Partners comes from the Greek word “syndeo,” which means “to connect.” The team is working with Fidelity Institutional as its custodian.
Pittsburgh Team
The new Dynasty group in Pittsburg, Interchange Capital Partners, is led by Ahmie Baum, CFP, and includes five advisors. Baum began his career with E.F. Hutton in 1979 and transitioned to UBS in 1983.
Others on the team are Brian Baum, CFP; Kendra Kasznel Reilly, CFP; Christopher M. Duerr, CFA, CFP; and Evan Fitzpatrick; as well as client associates Kathleen J. Saksa and Alyssa Jean Cassandro.
“As the world continues to change quickly, it has emphasized the requirement for financial advisors to be nimble and continue to be innovative on behalf of their clients,” according to Baum.
During the pandemic, “we are hearing from baby boomers who are reassessing their priorities, reevaluating their transition plans and are wondering if they are still on track to be able to unlock a lifetime of work and effort … ,” he added. “We will be hitting the ground running as an RIA.”
It will work with BNY Mellon’s Pershing as a custodian.