Close Close

Industry Spotlight > RIAs

Dynasty Adds $420M Morgan Stanley Team

Your article was successfully shared with the contacts you provided.
Shirl Penney, CEO of Dynasty Financial

Dynasty Financial Partners has added a $420 million advisory team from Morgan Stanley to its network: ShoreHaven Wealth Partners, previously Durso Wealth Management Group, is based in Red Bank, New Jersey.

The independent firm is led by Lawrence Durso, a 42-year industry veteran. He is joined by son Michael, an investment specialist; Michael Lombardi, a CFP; and Sheryl Iannuzzelli, director of relationship management and chief compliance officer.

“The ShoreHaven Team is a group of seasoned financial advisors and experts, and they are well-positioned to flourish in the independent space,” according to Shirl Penney, CEO of Dynasty Financial Partners.

“Because of the relationship between Larry and his son Mike, the team brings a particularly insightful perspective to their clients in understanding the impact of family dynamics on the management of wealth across generations,” Penney added.

ShoreHaven works with affluent multi-generational families and high net worth individuals, of which many are family-owned businesses that have their own succession and transition challenges.

Along with joining the Dynasty network, the team has selected Fidelity Institutional as its custodian and Black Diamond for performance reporting.

“We are excited to launch ShoreHaven Wealth Partners as an independent firm,” Larry Durso said in a statement. “We believe there are great opportunities to create a customized planning process for our clients as well as create our own brand.”

Dynasty — which is based in St. Petersburg, Florida, — had over 45 independent advisory firms on its platform with over $40 billion in client assets as of January. In addition to RIAs, Dynasty works with institutional and enterprise clients.

Related on ThinkAdvisor:


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.