Dynasty Financial Partners has added yet another breakaway-led advisory firm to its growing network.
On Wednesday, the platform for independent RIAs announced the launch of Atlanta-based Anchyra Partners, a new firm founded by three industry veterans who previously managed $2.6 billion in client assets.
The founding team, made up of Robert Durham, Zack Cloud, and Brian Gately, brings experience from major Wall Street institutions.
Before Anchyra, Durham formerly held senior roles at Stephens Inc. His BrokerCheck record, which spans more than four decades, includes a who's who of well-known names in the wirehouse space including Wells Fargo, Credit Suisse, Lehman Brothers, and Merrill Lynch.
Most recently, Cloud and Gately were vice presidents at Goldman Sachs, before which they also each spent time at Morgan Stanley, according to their BrokerCheck profiles.
Their new firm will focus on serving ultra-high-net-worth clients and multi-family offices, with plans to grow organically and through acquisitions.
“We’ve engineered Anchyra to support elite advisors who want to build something to last,” Durham, who serves as chief executive and is leading the firm’s recruiting and acquisition efforts, said in a statement. “We’re focused on creating an environment where experienced professionals can grow their businesses, contribute as partners, and deliver the kind of service sophisticated clients demand.”
Speaking on the move to independence, Durham cited the current state of technology and the opportunity for "more complex investments and private market plays," arguing that the resulting client experience "is almost second to none."
Anchyra, whose name is derived from the Greek word for "anchor," plans to scale by targeting advisory businesses with established client relationships, strong financials, and a desire to align through equity ownership. The firm said it will look to partner with advisors exiting captive environments across select US markets.
Other breakaway firms have launched with Dynasty’s backing over the past year.
TritonPoint Wealth, which made its debut in Washington, DC in January, was formed by advisors from United Capital and Goldman Sachs. In September, Matauro debuted in New York with a 14-person team that had managed roughly $700 million while at Equitable Advisors.
The Anchyra launch also follows a strategic collaboration between Dynasty and Goldman Sachs, giving Dynasty-affiliated advisors access to Goldman’s custody, lending, and capital markets services. That integration, announced in March, is designed to bolster Dynasty’s turnkey asset management offering.
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