Dynasty has proven its appeal for independent-minded RIAs once again as it welcomes a multibillion-dollar firm from Raymond James to its network.
Dynasty Financial Partners announced Tuesday that SageSpring Wealth Partners has officially transitioned to full independence by joining its platform, which provides a comprehensive suite of technology, investment, and operational solutions tailored to RIAs.
Founded in 2002, SageSpring Wealth Partners manages approximately $6.4 billion in assets for over 10,000 clients across nine offices in Tennessee, Alabama, Texas, Nebraska, and Iowa, with plans to expand further.
The move by SageSpring, previously affiliated with Raymond James Financial Services, marks one of the largest transitions to independence in recent years. Earlier this month, Dynasty announced it had hired Lindsey Strawhecker, a veteran leader from Raymond James, to head up its transition services team.
In a statement, SageSpring President Jeff Dobyns said the shift was "the logical next step for our growing footprint and diverse client base."
“We are incredibly proud of the business we have built and look forward to leveraging Dynasty's technology, investment team, products, services, and investment bank to help us better care for our clients while also building a better business,” he said.
The firm has carved out a niche by serving professionals and business owners, described as “the millionaires next door,” and plans to extend its offerings to include multi-family-office services. SageSpring also offers a formal mentorship program designed to develop next-generation advisors and support retiring professionals with succession planning.
“We have built a tremendous culture within our firm that I hope will motivate others in the space," Dobyns said. "As the industry ages, we have a growing group of next-generation advisors who are highly qualified and highly sought-after.”
In December, the firm made a critical addition to its leadership by appointing former NFL offensive lineman Winston Justice as CEO of its private wealth division.
As part of the transaction, Merchant, a minority owner of SageSpring, has partnered with Dynasty to support the firm’s next phase of growth.
Dynasty Financial Partners CEO Shirl Penney hailed the addition of SageSpring to its network, which now includes 55 firms with more than $105 billion in platform assets.
“They have built an impressive business over the years, and their focus on bringing in young talent and building the next generation of advisors is inspiring,” Penney said. "Given our focus on mentoring and guiding our Network of firms, we very much look forward to collaborating with them to write the next chapter of our industry’s growth."
LPL Financial and Raymond James also add independent advisors from Osaic and Edward Jones in Michigan and Arizona.
The SEC-registered RIA advises on more than $1 billion in client assets, with no advisory fee through 2027 and no human financial advisors.
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