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Brother-Sister Duo Emerges From JPMorgan as 'Unconquered' Wealth Team

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What You Need to Know

  • The addition of Invictus to Dynasty's network further expands its footprint in Florida.
  • Invictus has offices in Chicago, Miami and Milwaukee.
  • The RIA will focus exclusively on ultra-high-net-worth individuals and multigenerational families.

A brother-sister advisor team has broken away from JPMorgan, where they oversaw more than $1 billion of client assets under advisement, to start the RIA firm The Invictus Collective, joining the Dynasty Financial Partners independent advisor network.

The Invictus Collective has offices in Chicago, Miami and Milwaukee, and the firm will work exclusively with ultra-high-net-worth individuals and multigenerational families, Dynasty said, noting the firm’s name means unconquered in Latin.

The RIA’s presence in Miami allows Dynasty to further expand its presence in Florida. Dynasty recently added four executives from firms including UBS and TD Ameritrade that it said were part of its rapid expansion in Florida over the past year. Dynasty announced in the fall it was closing its New York office and combining its operations in St. Petersburg, Florida.

Invictus co-founders and managing partners Christian Habitz and Sarah Damsgaard both resigned from JPMorgan on Friday, according to Dynasty. Both of them were registered with J.P. Morgan Securities (recently renamed J.P. Morgan Advisors) as brokers and advisors since 2015, according to their reports on the Financial Industry Regulatory Authority’s BrokerCheck website.

Prior to that, they were each registered as a broker and advisor with Credit Suisse Securities.

Their Invictus multifamily office offering combines a “bespoke private banking approach with the most forward-looking technology” to provide clients with “the best of both worlds,” according to Habitz. The firm plans to offer its clients “proprietary private investment opportunities through our global network of business owners and leaders,” he said in the announcement.

“As siblings who own and operate a family business, we have specific insight, empathy and experience that allows us to better serve our clients,” according to Damsgaard.

The Invictus Collective selected Fidelity as its custodian, and its technology partners include Addepar and Fidelity’s eMoney Advisor.

The name of the RIA firm was chosen because Invictus “represents the perseverance, courage and determination of the entrepreneurial spirit,” Dynasty said.

JPMorgan did not immediately respond to a request for comment about losing the advisor team.

“With their decades of experience in wealth management working with the ultra-wealthy and their unique position to offer their clients proprietary deals, I am confident” that Habitz and Damsgaard “will thrive in the independent arena,” Shirl Penney, Dynasty CEO, said in a statement.

Dynasty now has 48 advisory firms in its network and $60 billion in assets on its platform, it said Wednesday.

Pictured: Shirl Penney, CEO of Dynasty Financial Partners