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dynastyfinancialpartners.com

Founded Year

2010

Stage

Loan | Alive

Total Raised

$1.5M

Last Raised

$1.5M | 2 yrs ago

About Dynasty Financial Partners

Dynasty Financial Partners provides wealth management and technology platforms for select independent financial advisory firms.

Dynasty Financial Partners Headquarter Location

200 Central Avenue 15th Floor

St. Petersburg, Florida, 33701,

United States

+1 212 373 1000

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Expert Collections containing Dynasty Financial Partners

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Dynasty Financial Partners is included in 2 Expert Collections, including Fintech.

F

Fintech

7,442 items

US-based companies

W

Wealth Tech

1,793 items

A category of financial technology that is digitizing & streamlining the delivery of wealth management. Included: Startups that offer technology-enabled tools for active and passive wealth management for retail investors and advisors.

Latest Dynasty Financial Partners News

New Mariner mega-firm seeks to grow to 5,000 advisors

Jul 21, 2022

July 18, 2022 9:54 AM The acquisition will be the independent channel’s fourth largest this year and the biggest ever for Mariner — a private-equity backed consolidator with $60 billion in client assets and 1,250 advisors and other employees that’s based in Overland Park, Kansas. The Financial Services Network, based in Sacramento, California, has $26 billion in client assets. It’s one of the largest hybrid RIAs to use LPL as a custodian and brokerage. Under the deal, The Financial Services Network and Mariner Platform Solutions will rebrand as Mariner Advisor Network. Launched in 2020, Mariner’s platform division has grown to 33 advisory firms with 66 advisors and $2.6 billion in client assets. The independent service doesn’t require incoming practices to sell any equity; both it and Mariner’s fast-expanding RIA will bring more assets and advisors to LPL through the transaction and the new custodian relationship. So-called hybrid practices operate their own advisory firms while tapping a wealth manager like LPL for brokerage operations and, often, custody of advisory assets as well. The deal, whose price was not disclosed, is expected to close in September. Partnerships among wealth management competitors don’t always prove lasting. Following its previous record-breaking acquisition , Bicknell’s firm dropped a strategic partnership with Dynasty Financial Partners in 2021 after only about a year. Under the previously-unreported move, Mariner opted to bring its RIA platform services in-house, Bicknell said. He remains a shareholder of Dynasty and said he’s “a big fan of what they are doing.” Representatives for Dynasty didn’t immediately respond to a request for comment. Olen said that The Network aims to grow significantly under Mariner. Financial incentives flowing between the firm and Mariner, and, on the other side, the firm and LPL won’t favor either when practices choose whether to fold into Mariner or use the platform’s services as independent practices, he said. Such arrangements can make firms like the Network attractive to advisors who receive discounts on vendor services, software and investment products thanks to the buying power of a larger enterprise of practices over a single one. The convenience for advisors acts as another factor. “Putting them through some kind of change would have been a dealbreaker,” Olen said. Folding into Mariner will enhance the Network’s purchasing leverage for “more services and better pricing to our advisors in the long term” while keeping its existing ones through the links to LPL, he said. “We hope we've been as good to them as they've been to us, and it was really important that we didn't interrupt that relationship,” he said. Indeed, the Network’s website lists eight different fintech firms that are “technology partners” to the firm, and its Form ADV brochure discloses brokerage compensation, production bonuses, fee reimbursements and transitional assistance paid by LPL to the firm’s advisors. The deal won’t alter any of it because the Network will still be an LPL hybrid RIA and office of supervisory jurisdiction, which is the independent equivalent of a branch or complex. The continuance of the Network’s links with LPL didn’t make any impact on the purchase price or amount of equity exchanged with Mariner, Bicknell said, since the firm’s revenue and earnings are what figures the most in valuations. Representatives for LPL didn’t make any executives available for an interview, but spokeswoman Linda Morgan said in an email that the firm works with other hybrid RIAs that have made their own private equity-backed deals. Wealth Enhancement Group and P rivate Advisor Group , enterprises that are similar to the Network, are two examples. “The ecosystem has expanded over the years where many [offices of supervisory jurisdiction] have evolved their models to RIA firms — many of which utilize the LPL custodial platform,” Morgan said. July 19, 2022 12:46 PM Acquisitions often result in the buyers adding an additional custodial option to their menu, according to Brad Wales, a former recruiting executive with LPL rival Raymond James who launched a consulting firm called Transition to RIA in 2020. He didn’t find it surprising that LPL is keeping the Network’s brokerage and custodial business after the deal. “Besides LPL being a leading provider for RIAs, it is arguably easier for Mariner to add LPL to their stable of custodian and broker-dealer options than move the assets to one of their existing solutions,” Wales said in an email. “I suspect it was only a matter of time before Mariner added LPL as a custodial option regardless.” Since launching in 2006 with about $300 million in assets under advisement, Mariner has grown to $60 billion with 1,250 advisors and other employees. After receiving a minority stake investment last year from Leonard Green & Partners , the company turned into one of the most frequent buyers in wealth management. The 12 deals Mariner struck last year made it fifth in terms of the volume of M&A transactions in 2021, according to investment bank and consulting firm Echelon Partners. The firm had already made seven more through the first half of 2022. Mariner’s potential pipeline for future deals extends to more than 50 other deals, with about 20 of them in active talks and another six to eight to come before the end of the year, Bicknell said. Deals seem to be on the smaller side this year compared to The Network, but the “great talent in those organizations” is “really what we're after” in any potential acquisitions, he said. “It’s extremely fragmented,” Bicknell said of the industry. “It will take years, if not decades, for that to change.”

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  • When was Dynasty Financial Partners founded?

    Dynasty Financial Partners was founded in 2010.

  • Where is Dynasty Financial Partners's headquarters?

    Dynasty Financial Partners's headquarters is located at 200 Central Avenue, St. Petersburg.

  • What is Dynasty Financial Partners's latest funding round?

    Dynasty Financial Partners's latest funding round is Loan.

  • How much did Dynasty Financial Partners raise?

    Dynasty Financial Partners raised a total of $1.5M.

  • Who are the investors of Dynasty Financial Partners?

    Investors of Dynasty Financial Partners include Paycheck Protection Program and Envestnet.

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