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Rise Growth Partners said Wednesday that it has made strategic minority investment in Cyndeo Wealth Partners, a Florida-based RIA with about $3.1 billion in assets under management focused on serving professional athletes, business owners and entrepreneurs.
Cyndeo is led by President and CEO Matt Kilgroe, who was with Merrill and UBS before launching the firm in 2020 with support from Dynasty Financial Partners. He entered the business in 1991.
"Having come from a wirehouse environment myself, I know how hard it can be for advisors to find true independence without sacrificing growth or autonomy," according to Kilgroe. "Rise understands that balance. This partnership allows us to scale intentionally while continuing to deliver the breadth and depth of services necessary to compete in today's environment."
For its part, Dynasty plans to "roll its investment" over as part of the deal with Rise, the firms said, and will also keep providing technology, investment platform support and other services.
"We're proud to join Dynasty to accelerate this next phase of growth," said Joe Duran, managing partner at Rise, in a statement. "Together, this positions us to be truly ambitious, particularly in lifting high-performance advisors out of the wirehouse environment and giving them independence without sacrificing scale or support."
Dynasty CEO Shirl Penney sees the arrangement as a win-win, too. "It is an exciting chapter to partner alongside Rise …" according to the CEO. "Together … we look forward to helping Cyndeo scale its platform and advance its growth for the benefit of both its clients and advisors."
Rise's other minority investments are in OnePoint BFG Wealth Partners (formerly Bleakley Financial Partners), Grimes & Co. and Krilogy.
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