Dynasty Financial Partners says it will soon close up shop in New York as it moves to combine its operations in St. Petersburg, Florida.
About 25 staffers — mainly in operations, technology and sales — have been based in New York, where Dynasty had its headquarters before moving them to the Sunshine State last year.
“We expect some New York staffers to continue working from home, while others will eventually move down to the St. Petersburg area,” Dynasty said in a statement, shortly after the news was reported by CityWire.
The coronavirus pandemic “played a major role in the firm’s decision to exit New York” and “accelerated a move that was already underway,” it explained.
Dynasty, which is led by Shirl Penney, says 50 employees are working in St. Petersburg and that it has hired 35 employees in the city over the past 18 months.