Dynasty Financial snags $700M team from Equitable Advisors

Dynasty Financial snags $700M team from Equitable Advisors
The 14-professional team is making a break for independence through the tech-enabled independent advisor platform.
SEP 30, 2024

A New York-based wealth team previously affiliated with Equitable Advisors has become the latest to embrace independence through Dynasty’s suite of technology-driven tools and services.

On Monday, the group of just over a dozed professionals from Equitable – which had been known as AXA Advisors until its parent company's 2020 rebranding – revealed their decision to launch as an independent firm, Matauro, through the Dynasty Financial Partners platform.

The move allows Matauro to offer more customized financial solutions tailored to the needs of their client base that includes entrepreneurs, business owners, and corporate executives. Enabled by its new independent structure, the firm will have greater flexibility in providing strategies that align with individual financial goals.

The team plans to leverage advanced technological solutions to deliver deeper insights and seamless integration with clients’ financial plans.

In a statement, Shirl Penney, CEO and founder welcomed Matauro into the "Dynasty Family," adding he was "thrilled to include a new firm in the steadily expanding independent wealth market.”

Matauro is led by co-founders Matthew Klein, CEO, Barrett Tabeek, CFO, and Steven Van Hooker, COO. Its stable of 14 experienced professionals includes Alexandra Fraser, managing director and principal advisor, and Eliran Abekassis, portfolio manager.

“Joining Dynasty allows us to provide our clients with enhanced tools and flexibility, helping them achieve their financial goals with even greater precision,” said Matthew Klein, CEO of Matauro.

Matauro has selected Fidelity as its custodian and will use Black Diamond for performance reporting, eMoney for financial planning, and BeCo for information security.

The Matauro team's move closely follows a realignment in Dynasty's leadership, in which the firm welcomed a new COO and placed two industry veterans in key positions to support its future growth.

With an estimated $100 billion across its enterprise as of Q2 2024, Dynasty’s network currently includes 56 independent firms and over 400 advisors, with average assets under management of $1.8 billion per firm.

Latest News

Just as wealth industry M&A was picking up, economic uncertainty could kill it again
Just as wealth industry M&A was picking up, economic uncertainty could kill it again

Deal volume increased post-election but now caution has taken over.

Want to get the most out of alts? You’ll have to do your homework
Want to get the most out of alts? You’ll have to do your homework

Advisors who expect an edge from alternatives' illiquidity premium – without understanding the underlying terms and explaining them to clients – have a world of learning to do.

'Finfluencer' Ponzi scheme defrauds investors of over $20M
'Finfluencer' Ponzi scheme defrauds investors of over $20M

The social influencer Tyler Bossetti pleaded guilty to wire fraud and aiding in the filing of false tax documents as a result of the real estate scheme, which ran from 2019 to 2023 and used platforms including Facebook and YouTube.

US annuity sales see sixth straight $100B+ quarter
US annuity sales see sixth straight $100B+ quarter

The latest LIMRA data release shows continued growth in RILAs, variable annuities, and FRD products, though researchers argue more education is still needed.

RIA moves: Thiel's Indivisible welcomes Ride Wealth Partners, $4B Beacon snaps up Astor
RIA moves: Thiel's Indivisible welcomes Ride Wealth Partners, $4B Beacon snaps up Astor

Indivisible Partners builds on its strategy to take turf in the independent space with its latest move in Colorado.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave