Dynasty hires Schwab alum to aid RIAs

Dynasty Financial Partners LLC has hired Loren Morris as director of RIA services
APR 10, 2011
Dynasty Financial Partners LLC has hired Loren Morris as director of RIA services. Mr. Morris, who starts Friday, 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. But Mr. Briganti said Mr. Morris' efforts will really begin once the ultrahigh-net-worth advisers whom Dynasty is targeting join the firm. He will be providing transition help and ongoing service. “Loren was known for his ability to make even the largest custodian feel like a small boutique for many of their top RIA firms,” Dynasty chief executive Shirl Penney said in a statement. Dynasty was officially launched last December by Mr. Penney and Todd Thomson. Both are ex-Smith Barney managers. Dynasty hired Michael Brown from U.S. Trust, Bank of America Private Wealth Management as director of wealth management. Mr. Brown's team at the Bank of America Corp. unit 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. E-mail Dan Jamieson at [email protected].

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