Abacus Life partners with Dynasty Financial Partners for new wealth division

Abacus Life partners with Dynasty Financial Partners for new wealth division
The firm will offer clients comprehensive financial planning services.
NOV 07, 2023

Market maker and alternative asset manager Abacus Life is expanding into financial planning with the launch of a new wealth division to support its secondary insurance market clients.

The firm has partnered with Dynasty Financial Partners for its ABL Wealth offering, which will help clients to understand their own longevity data to make investment decisions for the proceeds of life policies or other assets into diversified, custom portfolios.

Abacus Life has purchased more than $4.6 billion in face value of policies from consumers seeking liquidity, and actively managed the policies. The firm is the only publicly traded life settlement company (ABL).

“Over the past two decades, Abacus has built an extensive and proprietary lifespan database in concert with the deep client relationships we have developed, which has enabled us to establish valuable longevity-based liquidity options for life insurance policies and create $150 million of liquidity each year for our clients,” said Jay Jackson, CEO of Abacus. “Utilizing our incredible wealth of lifespan data to be able to provide prospective and current clients with complementary custom financial planning and investment management services is the natural next step forward for Abacus.”

DYNASTY PARTNERSHIP

By working with Dynasty, Abacus aims to leverage its client database and 10,000 inquiries a month to create a valuable suite of services with a national footprint.

Dynasty will help Abacus build a go-to-market strategy for ABL Wealth and assist it with areas such as marketing, practice management, compliance, and technology.

“This launch is yet another illustration of how the independent wealth management space has truly exploded with growth,” commented Shirl Penney, CEO of Dynasty Financial Partners. “Jay and the team are well-positioned to hit the ground running and we are thrilled to assist them to bring this unique offering to their client base. We look forward to supporting their strategic growth in the years to come.”

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