Dynasty Financial Partners is closing its former headquarters in New York City on Nov. 1, a move that will affect roughly 25 people, primarily staffers in operations, technology and sales.
“We expect some New York staffers to continue working from home, while others will eventually move to the St. Petersburg area,” the company said in a statement.
In 2019, Dynasty moved its headquarters to St. Petersburg, Florida. It employs 50 people there.
“The majority of our staff is based in St. Petersburg, so it no longer was necessary or made sense to keep the space that we had in New York; it accelerated a move that was already underway,” according to a statement about the closure, which was first reported by Citywire.
The coronavirus pandemic, which forced many financial services firms to exit their offices and led the vast majority of employees work from home, played a major role in Dynasty’s decision to exit New York.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
