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.

Latest News

JPMorgan mulls new asset lending scheme aimed at crypto ETF investors
JPMorgan mulls new asset lending scheme aimed at crypto ETF investors

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.

Fintech bytes: Future Capital adds RayJay alum to C-suite, Advyzon welcomes ex-Envestnet leader
Fintech bytes: Future Capital adds RayJay alum to C-suite, Advyzon welcomes ex-Envestnet leader

The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.

UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel
UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel

“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.

Cetera Trust hires Fidelity vet Kerri Scharr for chief fiduciary officer role
Cetera Trust hires Fidelity vet Kerri Scharr for chief fiduciary officer role

The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.

Trump's 'revenge tax' might come back to bite US borrowers, experts say
Trump's 'revenge tax' might come back to bite US borrowers, experts say

Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.

SPONSORED Beyond the dashboard: Making wealth tech human

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

SPONSORED The evolution of private credit

From direct lending to asset-based finance to commercial real estate debt.