Dynasty hires Scott D. Welch to be chief investment officer

Service provider plans to expand investment opportunities for its network of advisory firms

May 14, 2015 @ 12:33 pm

By Alessandra Malito

Dynasty Financial Partners, a company that sells advisers services and tools to run their businesses, has hired Scott D. Welch for its new position as chief investment officer.

In his new role, Mr. Welch will oversee investment research, choose research partners and select portfolio managers. His work will be made available to advisory firms already a part of Dynasty's Network to improve their investment options. Mr. Welch will report to Todd Thomson, chairman and head of the investments committee at Dynasty.

“We've done our best to stay up with the trends, but that's one of the main reasons we hired Scott,” said Mr. Thompson, who acted as an interim CIO.

Dynasty has commercial relationships with 28 firms, though that number is expected to be closer to 40 by the end of the year. The company has been expanding the services and tools it can offer its adviser partners. Earlier this year, it picked up a former Merrill Lynch director to help advisers form acquisitions

Mr. Welch's aim in particular will be to help advisers with the investments management portion of their businesses.

“My job is to take the information and data that Dynasty receives and apply a layer of intellectual capital so it fits in the needs of the growing community base,” Mr. Welch said.

He added that this can be done in three ways: By making sure the offering fits the needs of the adviser base; innovating and evolving over time; and educating the wealth management community about the benefits of using solutions like Dynasty.

“We actually believe advisers are better off outsourcing a lot of that capability to the Dynasty investment platform,” Mr. Thomson said. “We would expect to see over time that a lot of advisers continue to leverage the investment platform, and Scott will be a critical part of and give some more flexibility and scalability on building business.”

Prior to joining Dynasty, Mr. Welch was at a wealth management consulting firm he founded called UnconstrainedThought. From 1998 to 2014, he was executive vice president and chief investment officer of Fortigent, a firm he co-founded,which was bought by LPL Financial in 2012. In that job he oversaw investment and research. For twelve years before joining Fortigent, he focused on capital markets, risk management and relationship management on Wall Street, first at Swiss Bank Corp. and then at The Globecon Group.

An earlier version of this story misstated the date when LPL Financial bought Fortigent. It was 2012, not earlier this year.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

What's the first thing advisers should do when they get home from a conference?

After attending a financial services conference, advisers can be overwhelmed by options, choices and tools. What's the first thing they should do when they get back to their office?

Latest news & opinion

Is Fidelity competing with retirement plan advisers?

As the Boston-based mutual fund giant expands the products and services it brings to the retirement market, some financial advisers say the firm is encroaching on their turf.

Gun violence hits investment strategies, sparks political debates with advisers

Screening out weapons companies has limited downside.

Whistleblower said to collect $30 million in JPMorgan case

The bank did not properly disclose that it was steering asset-management customers into investments that would be profitable for JPMorgan Chase.

Social Security underpaid 82% of dually entitled widows and widowers

Agency failed to tell survivors that they could switch to a higher retirement benefit later.

If Finra eases firm oversight of outside business activities, broker-dealers could lose revenue

Brokerage firms would no longer be able to charge reps for supervising nonaffiliated RIAs.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print