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Dynasty Financial Partners-affiliated Procyon Partners just hired Steven Mitchell, former managing director of Wealth Management at UBS, where he advised on more than $2 billion of assets. Procyon Partners has $3 billion in assets under advisement.

In July, Dynasty added a $420 million advisory team from Morgan Stanley to its network: ShoreHaven Wealth Partners, previously Durso Wealth Management Group.

Mitchell has 30 years in the business, specializing in retirement, financial planning and structured lending for ultra-high net worth families. Prior to UBS, he was with Barclays Capital for a short stint after leaving Lehman Brothers, where he had been for 17 years.

“Steven … brings a wealth management and lending expertise that will expand the services and resources that Procyon’s Private Wealth group specializes in,” according to Procyon Partners CEO Phil Fiore. “We plan to continue this theme of expansion and will be making additional announcements in the near future.”

A graduate of Syracuse University with a B.A. in economics, Mitchell will be located in Procyon’s New York City office.

“Joining Procyon will enable me to advise my clients on more opportunities than ever before because of the overall platform,” Mitchell said in a statement. “I have always been intrigued with being an independent advisor and believe Procyon gives me the best opportunity to add that ultimate value for my clients.”

Based in St. Petersburg, Florida — Dynasty 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.

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