Breakaway UBS, Morgan Stanley teams form $750M RIA

Houston-based Icon Wealth Partners affiliates with Dynasty Financial Partners

Feb 23, 2017 @ 1:00 pm

By InvestmentNews

Advisory teams from Houston offices of UBS and Morgan Stanley that collectively managed $750 million have formed Icon Wealth Partners and affiliated with Dynasty Financial Partners.

The new firm is headed by Mark McAdams and Steve Schwarzbach, who came from Morgan Stanley, and Blake Pratz, who was with UBS. Their teams also joined them at the new firm, which is a registered investment adviser, according to a release from Dynasty.

In addition to affiliating with New York-based Dynasty, which provides technology and operational support for RIAs, Icon Wealth Partners has formed strategic partnerships with Fidelity Institutional Wealth Services, Black Diamond and Callan, the release said.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

INTV

Why some retirement plan advisers think Fidelity is invading their turf

InvestmentNews editor Frederick P. Gabriel Jr. and reporter Greg Iacurci talk about this week's cover story that looks at whether Fidelity Investments is stepping on the toes of retirement plan advisers.

Latest news & opinion

Maryland jumps into fiduciary fray

Legislation would require brokers to act in best interests of clients.

8 apps advisers love for getting stuff done

Smartphone apps that advisers are using in 2018 to run their business more efficiently.

Galvin's DOL fiduciary rule enforcement triggers industry plea for court decision

Plaintiffs warned the Fifth Circuit that Massachusetts' move against Scottrade signaled that the partially implemented regulation can raise costs for financial firms.

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.

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.

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