Dynasty has officially added two firms in as many days to its network as the titanic RIA platform welcomes a breakaway advisor team in the East Coast.
On Wednesday, Dynasty Financial Partners announced the launch of TritonPoint Wealth, a Washington, DC-based RIA managing approximately $1.6 billion in assets, on its independent advisor platform.
Led by roughly half a dozen financial professionals from Goldman Sachs, the RIA consists of a 16-person group serving business owners, entrepreneurs, professionals, and families across the US.
The defectors from Goldman include partners Andrew Schiff, Greg Blake, and Will Sterling, as well as managing director Gregory Powers and vice presidents Jonathan Rosner and Peter Halbrook.
The TritonPoint leadership team also includes partner and COO Deatra Vailes.
Schiff, a 26-year veteran of the industry, said the transition to independence will provide greater flexibility in the investment offerings they can recommend to clients.
“Being independent enables us to fully untap the investment acumen of our advisors and staff solely for the benefit of our clients,” he said in a statement Wednesday. “For the first time, we have the ability to explore alternative investments and design bespoke solutions – free of the constraints and commoditization of a large investment bank.”
TritonPoint plans to expand both organically by adding new clients and inorganically by recruiting advisors and advisory firms that share its vision for independent wealth management.
Shirl Penney, CEO of Dynasty Financial Partners, welcomed the firm to the network.
“We are honored the TritonPoint team chose to join Dynasty’s family of liberated, self-sufficient firms,” he said. “They understand the advantages of true independence and the pride that comes with working authentically with their clients.”
TritonPoint's launch in DC comes a day after Dynasty welcomed SageSpring Wealth Partners, a $6.3 billion RIA in Nashville that was previously with Raymond James. In October, Dynasty got fresh fuel for its growth strategy as it closed a minority capital raise from a coalition of investors that included strategic investments from Schwab, BlackRock, and JPMorgan Asset Management.
B Capital and pension giant CalPERS lead a consortium buying the 90-year-old asset manager from TA Associates and Reverence Capital Partners.
Using artificial intelligence can have benefits for both advisors and their clients, according to new research.
Broker-dealers that sold the defunct securities backed by Inspired Healthcare generated more than $100 million in fees and commissions.
FINRA barred the advisor, Sung Moo Cho, last month.
A new MetLife survey finds real estate professionals are increasingly steering clients toward tax experts as rising property values leave more sellers facing significant capital gains.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
