In a bid to cement its reputation for supporting breakaway advisors, Dynasty Financial has bolstered its bench with a big-name veteran of the wealth industry.
The leading platform for independent firms has just welcomed Tim Oden, most known for his tenure of senior leadership at Schwab, as an executive-in-residence for 2024.
"We are very pleased that Tim agreed to join us as a strategic advisor,” Dynasty Financial founder and CEO Shirl Penney said in a statement. “As an architect of the RIA space and one of its longest tenured professionals, he will bring tremendous value to us as we navigate this fast-growing industry."
Over the course of his three-decade career, Oden has built a track record of successful partnership with advisor teams as he designed and implemented innovative strategies, pioneered new operating models, and coached up-and-coming advisors.
Dynasty Financial’s executive-in-residence program taps the expertise of wealth management executives who have built successful businesses. It’s a core piece of the firm’s “Advisor to CEO” program, which offers content and coaching for CEOs within its independent RIA network.
“When Shirl approached me about an opportunity to partner with Dynasty and help the team evaluate new strategies and business opportunities, I was keen to be involved,” Oden said.
Last year was a pivotal period for Dynasty Financial’s breakaway business.
Among its major moves for 2023, last February, the firm announced its acquisition of TruClarity Management Solutions, a platform geared toward wirehouse brokers making the leap to independence.
A few months later, it made a play for the burgeoning M&A market among RIAs with the launch of its own investment banking business.
In July, Dynasty enlisted veteran business broadcaster Ron Insana to help identify strategic portfolio investment opportunities as its chief market strategist.
Then in September, it announced that Andrew Marsh, the founder of Richardson Wealth, who was also part of its executive-in-residence program, would fill the newly created role of vice chairman.
“Tim has been a good friend and trusted confidant for years, so I know his advice will make an impact on the future of our business and our Network,” Penney said.
“2024 is shaping up to be a transformative year for the firm and I am thrilled to have a seat at the table,” Oden said.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
