Veteran advisor launches Clear Trail Advisors with Dynasty, targeting 'the millionaire next door'

Dynasty Financial Partners is extending its reach yet again in the Lone Star state, attracting a veteran-led team from Steward Partners as they launch their own independent practice in Texas.

On Tuesday, Dynasty announced the launch of Clear Trail Advisors, a Houston-based RIA led by industry veteran Randy Price, who previously oversaw $850 million in client assets with his team at their former firm.

The new firm joins the Dynasty Financial Partners network, leveraging Dynasty’s technology and support as it aims to serve what Price describes as “the millionaire next door” – clients who have quietly built significant wealth through steady saving and investing rather than high-profile business ventures or inheritances.

Randy Price – whose 39-year BrokerCheck record includes stints at Raymond James, RBC, and the defunct Lehman Brothers – is joined by CEO Matt Price and president Matthew Kerns.

In a statement, Randy Price emphasized the team's fiduciary focus, highlighting the opportunity to "[gain] access to some of the most top tier research, technology, and operational support" at Dynasty.

The move at Dynasty comes as the number of so-called “everyday millionaires” in the US continues to rise. According to the 2025 UBS Global Wealth Report, individuals with between $1 million and $5 million in assets – dubbed EMILLIs – have surged from just over 13 million globally in 2000 to nearly 52 million by the end of 2024.

In the US, this group represents a significant and growing share of the wealth management market, with many having accumulated their assets through real estate appreciation, long-term investing, and entrepreneurship rather than inheritance or windfalls.

On a related note, a recent Wall Street Journal report highlighted the rise of the "stealthy wealthy," which the news outlet defined as high earners who made their millions through "distinctly boring and extremely lucrative" ventures like auto dealerships, grocery stores, and dental practices, as opposed to more glamorous and high-profile sectors like tech and investment banking.

Citing an analysis of anonymized tax data by economists Owen Zidar and Eric Zwick, the Journal said that among the top 1% earners in 2022, just over a third (34.9%) of their income was derived from business ownership. For the top 0.1% of owners, that number rose to 43.1%. 

"Zidar and Zwick attribute the growth of this group to tax cuts in recent decades for such business owners and low interest rates that have boosted company valuations," the Journal said. "The number of such business owners worth $10 million or more, adjusted for inflation, has more than doubled since 2001, to 1.6 million as of 2022."

Clear Trail Advisors’ launch is just the latest in a series of developments for Dynasty Financial Partners, which recently announced a two-way minority equity swap with Abacus Global Management, one of its affiliate firms in Florida. Before that, Dynasty revealed its appointment of Shawn Shook as general counsel to support legal strategy and advisor transitions.

Dynasty’s network currently includes 57 partner firms with more than $115 billion in platform assets as of Q1 2025, according to its website.