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 tells fintech firms to start paying for customer data
JPMorgan tells fintech firms to start paying for customer data

The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.

FINRA snapshot shows concentration in largest firms, coastal states
FINRA snapshot shows concentration in largest firms, coastal states

The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.

Why advisors to divorcing couples shouldn't bet on who'll stay
Why advisors to divorcing couples shouldn't bet on who'll stay

Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.

SEC spanks closed Osaic RIA for conflicts, over-charging clients on alternatives
SEC spanks closed Osaic RIA for conflicts, over-charging clients on alternatives

With more than $13 billion in assets, American Portfolios Advisors closed last October.

William Blair taps former Raymond James executive to lead investment management business
William Blair taps former Raymond James executive to lead investment management business

Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.