Dynasty Financial Partners closed a minority capital raise to fuel its ongoing growth. Several of Dynasty’s long-standing investors and members of its Board of Directors supported the round, as well as three strategic investors, including existing investor The Charles Schwab Corporation and new investors BlackRock and J.P. Morgan Asset Management. All proceeds from the investment round will go directly into Dynasty’s business to enhance its platform which helps its clients build better businesses and take better care of their clients.
Dynasty CEO and Founder Shirl Penney said: “I could not be more excited for our clients as we continue to make significant investments in technology, talent, and capabilities to serve them better. In addition, enhancing our fortress balance sheet will allow us to provide more capital in support of our clients who are looking to grow their businesses via M&A or achieve succession planning goals. I am extremely thankful to our investors who have supported us since the early days of Dynasty, and I also want to thank BlackRock, Schwab, and JPMorgan for their support. The future is bright for Dynasty and our network of independent advisors!”
Dynasty’s network consists mostly of clients who own and operate independent registered investment advisories (RIAs) that leverage Dynasty’s integrated technology, services, robust turnkey asset management program (TAMP), digital lead generation services, capital solutions, and investment bank. This industry-leading, integrated RIA platform model provides synthetic scale that allows Dynasty-powered RIAs to be Independent But Not Alone™. Currently, Dynasty has 58 Network Partner firms representing over 400 advisors with over $100 billion in platform assets.
As previously announced, Dynasty has a $50 million unused credit facility from Citibank, Goldman Sachs Bank, J.P. Morgan, RBC Capital Markets, and UMB Bank that provides access to growth capital, in addition to its strong balance sheet.
“This investment round marks a significant milestone,” added Dynasty Chairman of the Board Harvey Golub. “To have backing and support from a roster that includes one of the largest custodians, asset managers, and banks in the world is fantastic. I feel it speaks to the remarkable growth of the RIA space and innovative companies like Dynasty who are driving positive change in the industry for financial advisors and their clients. I, along with other legacy Board members, are excited to continue to back Shirl and the leadership team as they support our growing network of independent advisors.”
Dynasty Investment Bank served as exclusive financial advisor to Dynasty Financial Partners on the transaction. Sullivan & Cromwell LLP served as the legal advisor to Dynasty Financial Partners.