Dynasty snags a Schwab big to head RIA business

Dynasty Financial Partners LLC has hired Loren Morris as director of RIA services.
APR 15, 2011
Dynasty Financial Partners LLC has hired Loren Morris as director of RIA services. Mr. Morris, who starts April 15, is also a partner of the firm. Most recently, he was national head of the consolidator segment for Charles Schwab Advisor Services. Mr. Morris "will be participating in initial [recruiting] calls that Dynasty has with adviser teams," said Will Briganti, a spokesman for Dynasty. "His efforts will really begin once an adviser joins" Dynasty, Mr. Briganti said, by providing transition help and ongoing service to the ultra high-net worth advisers Dynasty is targeting. Dynasty is a solutions provider for independent advisers. "Charles Schwab is an important partner for Dynasty, and we believe Loren will make that partnership even stronger," said Dynasty chief executive Shirl Penney in a statement. "Loren was known for his ability to make even the largest custodian feel like a small boutique for many of their top RIA firms," said Dynasty chief executive Shirl Penney in a statement. Dynasty was officially launched last December by Mr. Penney and Todd Thomson. Both are ex-Smith Barney managers. At that time, the company announced that it hired Michael Brown from Bank of America's U.S. Trust unit, as director of wealth management. Mr. Brown's team at U.S. Trust reportedly handled $5.9 billion in client assets. Dynasty investors and board members include William Donaldson, former chairman of the Securities and Exchange Commission, and Harvey Golub, the former American Express Co. chief executive.

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