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.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
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.
