Podcasts about dynasty financial partners

Scott Welch of Certuity joins Tony in episode 17 of the Alternative Allocations podcast to provide his perspective on allocating to alternative investments. They discuss the growth of evergreen products, the importance of due diligence when selecting a private fund manager, and the evolution of the alternative investment industry. Scott also provides insight into how he thinks about portfolio construction and where private funds and alternatives fit into an overall portfolio.  Scott Welch, CIMA®, Chief Investment Officer & Partner, Certuity. As the head of Certuity's investment strategy team and member of the firm's risk management team, he is actively involved in all facets of the firm's investment program and works with Certuity's advisors, investment analysts and directly with clients on portfolio architecture, asset allocation, investment due diligence and selection.  Prior to joining Certuity, Mr. Welch was a member of the WisdomTree Asset Allocation and Investment Committees and was the Chief Investment Officer of their model portfolios. Prior to WisdomTree, Mr. Welch was the Chief Investment Officer of Dynasty Financial Partners, as well as the Co-Founder and Chief Investment Officer of Fortigent, LLC, a provider of outsourced investment research, technology, and practice management solutions to RIAs and banks that was purchased by LPL Financial. Prior to joining Fortigent and its predecessor RIA in 1998, Mr. Welch spent more than 12 years on Wall Street. Mr. Welch holds the Certified Investment Management Analyst (CIMA®) designation, as well as the Investment Strategist, Advanced Investment Strategist, and Alternative Investments Certificates from the Investments & Wealth Institute (IWI). He has served on the Board of Directors of IWI, the Advisory Board of the ABA Wealth Management & Trust Conference, and the Editorial Advisory Boards of the Journal of Wealth Management and the IWI Investments & Wealth Monitor. In 2024, Mr. Welch was awarded the Wealth Management Impact Award from IWI in recognition of his significant contributions to the wealth management industry over the course of his career. Mr. Welch earned a Bachelor of Science in Mathematics from the University of California at Irvine and an MBA with a concentration in Finance from the University of Massachusetts at Amherst. Scott Welch, CIMA® | LinkedInAlternatives by Franklin TempletonTony Davidow, CIMA® | LinkedIn

Gordon “Gordy” Abel from Dynasty Financial Partners offers perspectives on why marketing matters, how to create and leverage a brand, the key aspects of an effective value proposition, and more for employees of an established firm or someone just launching a new independent entity.

How does one go from financial struggle to creating a platform worth nearly $100 billion?  This question encapsulates the extraordinary journey of Shirl Penney, founder, president, and CEO of Dynasty Financial Partners. Beginning in rural Maine where financial stability was difficult to come by, his story is one of grit and determination.  Although Shirl had to overcome early hardships, his desire for education and self-improvement led him to prestigious institutions and eventually to the competitive world of finance. Having navigated and overcome numerous obstacles led to the establishment of Dynasty Financial Partners, a firm he founded with resilience and an innovative mindset.  In this episode of The Greatness Machine, Darius is joined by Shirl Penney to share his compelling journey from the financial struggles of his upbringing in rural Maine to building a financial empire managing nearly $100 billion in assets. The conversation delves into the challenges he faced, the pivotal moments that shaped his career, and the innovative strategies he employed to revolutionize the wealth management industry. Shirl also discusses the importance of resilience, leadership, and maintaining a clear vision in the pursuit of success.  Topics include: Shirl looks back at being homeless to founding Dynasty Financial Partners Improving financial literacy and providing independent financial advice  The origin and motivation behind the creation of Dynasty Financial Partners The impact of Shirl's upbringing and experiences on his approach to business The value of maintaining a strong corporate culture and significant growth And other topics… Connect with Shirl: Website: https://dynastyfinancialpartners.com/  LinkedIn: https://www.linkedin.com/in/shirlpenney Connect with Darius: Website: https://therealdarius.com/ Linkedin: https://www.linkedin.com/in/dariusmirshahzadeh/ Instagram: https://www.instagram.com/imthedarius/ YouTube: https://therealdarius.com/youtube Book: The Core Value Equation https://www.amazon.com/Core-Value-Equation-Framework-Limitless/dp/1544506708 Learn more about your ad choices. Visit megaphone.fm/adchoices

As the leader of Dynasty Financial Partners' Investment Banking division, Harris brings over 15 years of financial services experience to the table. His career journey is marked by significant achievements, including a successful stint at UBS Investment Bank, where he played a pivotal role as an Executive Director in the Financial Institutions Group. During his time at UBS, he was instrumental in originating, leading, and executing strategic M&A and capital market transactions exceeding $10 billion, specifically focusing on the asset and wealth management industry. I'm excited to share Harris' expertise with you, while discussing the evolving landscape of RIA M&A, as well as discussing equity, industry skepticisms, and what the future looks to have in store for the space. THE SHIFT TO INORGANIC GROWTH STRATEGIESThere is an important mindset shift necessary for advisors moving from organic to inorganic growth strategies. This shift often happens internally, for example, when an advisor excels and seeks equity in the firm, leading CEOs to seek valuation guidance. Other times, it's about friendly deals between neighboring RIAs or advisors seeking to join a former colleague's firm. Organic growth, characterized by internally driven expansion such as acquiring new clients or increasing assets under management, is a familiar terrain for most advisors. The shift to inorganic growth, however, such as mergers and acquisitions (M&A), requires a different strategic approach and mindset. Inorganic growth often involves complex negotiations, valuations, and integration processes that aren't typically encountered in organic expansion. THE VALUE OF EQUITY IN M&A TRANSACTIONSHarris also touched on the critical role of equity in M&A transactions. In a high interest rate market, cash is king, but equity can be an even more valuable currency. This is especially true when smaller firms merge with larger ones, allowing for a 'second transaction' opportunity as the larger entity grows and scales. The successful realization of value from equity stakes in M&A transactions relies not only on the timing and execution of the initial deal, but determining whether these equity stakes can be monetized profitable also relies on: The ongoing performance and strategic direction of the merged entity The overall health of the industry Market conditions The strategic decisions made post-merger INDUSTRY SKEPTICISMWhile optimistic about the future, Harris also acknowledged the skepticism surrounding the industry, citing examples like Focus Financial and United Capital. The success or failure of equity models in the RIA space will largely depend on how these transactions are structured and the strategic decisions of the firms involved. He suggests that a careful approach, focusing on long-term value rather than short-term gains, will be crucial for the success of these equity plays. Harris' insights into the RIA market highlight the importance of strategic thinking and adaptability in a rapidly evolving industry. His emphasis on the psychological aspects of deal-making, the strategic use of equity, and the need for disciplined underwriting underscores the complexity of modern investment banking in the RIA space. As the industry moves forward into 2024 and beyond, the lessons shared by Harris will undoubtedly play a critical role in shaping the future of RIA mergers and acquisitions. • • • For my full discussion with Harris, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON HARRIS BALTCH:https://dynastyinvestmentbank.com/team/harris-b/https://www.linkedin.com/in/harrisbaltch/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!

On this special July 4th episode of The Compound and Friends, Michael Batnick and Downtown Josh Brown are joined by Scott Neil (Founder, Horse Soldier Bourbon) and Shirl Penney (CEO of Dynasty Financial Partners) to discuss the special forces sent to Afghanistan in the aftermath of 9/11 (now known as the horse soldiers), entrepreneurship, the importance of hiring the right people, and much more! This episode is presented by Jack Carr's new high-adrenaline thriller, Only the Dead. Pick up your copy at: https://www.simonandschuster.com/books/Only-the-Dead/Jack-Carr/Terminal-List/9781982181697?utm_source=the_compound&utm_medium=atria_display_ad&utm_content=&utm_campaign=only_the_dead_ad Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/

What happens when a senior advisor is looking to sell their practice to a junior advisor, but there's a large gap between the firm's valuation and the advisor's income? On today's What Works Wednesday, Matt is joined by Harris Baltch from Dynasty Financial Partners to share his recommendations for advisors who may be considering selling their practice, as well as an advisor who may be considering buying in the future. Harris will also discuss the importance of CEOs being educated and why planning early can make all the difference in a deal going forward. http://bit.ly/3GHBj5L

Welcome back to another episode of the Independence Playbook. In today's episode, John is joined by Jon Morris, Chief Legal and Governance Officer at Dynasty Financial Partners. Jon shares some of the essential items advisors need to know from a legal perspective before breaking away.

Having more than 25 years of experience, Procyon Partners' Co-Founder, Phil Fiore, has extensive experience and expertise in the investment advisory space. In addition to being a co-founder of Procyon in 2017, Phil formerly held the positions of Senior Vice President of Wealth Management at UBS, Senior Institutional Consultant, Senior Retirement Plan Consultant, and member of the Institutional Consulting Group and its Advisory Council. 401KWire twice named Phil one of the Nation's 300 Most Influential Advisors in the Defined Contributions Arena, The Financial Times recognized him as one of their Top 400 Advisors in 2014, and Barron's named him one of their Top 1,200 Financial Advisors in 2015. Given all these accomplishments and experiences, Phil is equipped to speak with authority in the wealth management space, but, when Phil was younger, the term “wealth management” wasn't even in his lexicon. Coming from a first generation immigrant Italian family, Phil spent most of his early life believing that soccer would be what his future held. His father, a traditional Italian man, created the PAL Soccer League in his hometown in Connecticut. While his father instilled within him a go-and-get-it-yourself attitude as opposed to handing him money (a rudimentary business skill), soccer was indeed what his heart was set on. Nevertheless, professional soccer only existed in Europe at the time Phil graduated college, so he had to figure out a new path. At first, his intended path was law school, but sometimes life chooses for you what you're meant to do. In his late 20s, he was presented with an opportunity to join a business he couldn't refuse which led tohim became the highly regarded leader and dealmaker he is today. THE NEW WAVE OF BREAKAWAY Procyon Partners is a prime example of a new wave of breakaway RIA firms. Traditionally, RIA breakaways were wealth management practices run by advisors establishing their own businesses for their own reasons - mainly escaping big firm bureaucracy and limitations or the desire to be self-employed. On the other hand, a new wave of breakaways was ushered in, with Procyon being one of those to breakaway with new additional motivation: Authentic, strategic growth from the start. This is growth with intention, not growth for the sake of growth, but growth with the purpose to build a stronger organization that can service clients more fully and comprehensively. Though Phil and his fellow founding partners started out in wirehouse firms (a full-service broker-dealer), they realized that their specialty expertise in retirement consulting and other key service offerings excelled well beyond the wirehouse's “full-service” paradigm. As a result, they made the decision to leave the wirehouses. “An exciting journey, for sure,” says Phil, but certainly not without its challenges. One of the biggest hurdles faced by Phil and his new company was actually the freedom they had to operate as they pleased. They had to take a step back and evaluate their circumstances, and not act on impulse, but rather conduct their business in a manner that was best for their clients and for their business. Another decision made in 2017 by the Procyon founding partners, was to collaborate with Dynasty Financial Partners. Due to Dynasty's well-established standing, they were able to offer analytics, experienced transition, and operational support to Procyon in ways that would otherwise be inaccessible to them at their founding. This decision gives Procyon the ability to focus on transitioning their clients and providing personalized service at a high level for high-net-worth individuals, families, and business owners. In 2022, this partnership is still in place, and Procyon's founders continue to benefit from and deeply appreciate the exceptionality, support and partnership that Dynasty offers. A STRATEGIC GROWTH-DRIVEN MINDSET Procyon Partners' authentic, strategic growth-driven goal was present from the beginnng in 2017. Their start focused on organic growth by the founding partners going out and attracting business on their own; however, their inorganic growth via bringing on new advisors has been what gave them their largest leg up. It's important to note that there is no one specific way to achieve growth, what works for one business may not work for another. Depending on business model and industry, primarily organic growth may be best, inorganic growth may get you further, or a combination of the two may be where the sweet spot is. For most businesses, a balance of the two is usually preferred, but in the RIA space, inorganic growth has become a huge drive of success for most of the fastest growing firms. The model Procyon decided to use for their growth is “One Team, One Dream”. Phil explains that, for example, many M&A transactions may operate as “Corey Wealth Management, Powered by Procyon”, and while there's nothing wrong with this, Phil believes that by operating with unity, they're able to achieve more growth. Phil, alongside his Procyon founding partners, decided from the start they wanted their business to operate as one, with everyone who is coming in being in the same boat, rowing towards the same dream. That can provide some obstacles in finding the right people for your business, but in the end, when the right people come together, wonderful things will happen. Additionally, Phil emphasizes that bringing in talent who are eager to be there, people who can act as leaders in your firm will help your company run like a well-oiled machine. You can generate a lot more growth by bringing in strong, enthusiastic talent as opposed to bringing in what's available merely because it's available or who doesn't want to genuinely work with you. The latter will undoubtedly work against your growth prospects. AUTHENTICITY IN A COMPETITIVE MARKET As the RIA space grows, genuine talent becomes more difficult to find, and of course bringing on talent is paramount to growth– organic or inorganic. How does a firm set themselves apart, and attract talent to bring on board? For Phil, the answer is simple: Authenticity. Procyon's message is deliberately authentic to attract authenticity. Many – not all – firms will promise the stars, and only deliver on half the sky. For Procyon, it's imperative to: Be transparent in what his firm can offer Authentic in wanting to build a beneficial relationship Keeping expectations grounded so they can be exceeded Hiring the right people with the right motivation and incentives By keeping things transparent and authentic, and not making unrealistic promises, Phil believes Procyon gleans beyond other firms who may not practice with this type of authenticity. Furthermore, they choose to set themselves above by being proactive in their hiring, choosing people who are good at what they do, and nurturing that talent with the right motivation. Not just comp, but something tangible so they can build, create, and grow with enthusiasm. “One Team, One Dream”: It's a philosophy that's not just words for Procyon, but one that is in chronic practice. A PIVOTAL DEAL In May 2021, Procyon Partners acquired Pivotal Planning Group, whose partners became partners in Procyon. This transaction was so much more than cutting a check to add clients, it was a meaningful partnership for both Procyon and Pivotal. What Phil describes as “awesome” was the fact that neither Procyon nor Pivotal needed the other at the time of the transaction. It wasn't need-based, it was taking a curiosity of “what if?”, and actually doing it. This important deal has helped Procyon continue to expand its offerings and talent in a way that would be difficult and time consuming to create organically. By practicing authenticity and strategic growth, Phil and his founding partners have been able to build Procyon to be one of the most solid RIA firms in the U.S. They've afforded themselves the opportunity to make extremely beneficial deals such as with Dynasty and Pivotal, and grow their business to expand their services far beyond what they ever anticipated. They've done the hard work, brought in incredible leaders and partners, and built Procyon to be dynamic and unified, making the sum of Procyon extremely attractive to talent, advisors, and clients alike. • • • For my full discussion with Phil Fiore, and more on the topic:Listen to the Full DealQuest Podcast Episode Here • • • FOR MORE ON PHIL FIORE AND PROCYON PARTNERS:https://www.linkedin.com/in/fiorephil/ https://www.procyonpartners.net/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. If you want to find out how deal-ready you are, take the Deal-Ready Assessment today!

In this episode, David Armstrong is joined by Shirl Penney, President and CEO of Dynasty Financial Partners, diving into the history and ecosystem of the independent financial advisor movement.  Shirl discusses: The problem Penney and his co-founder were looking to solve when they launched Dynasty. How technology was the great enabler fueling Dynasty's growth Replicating … Continue reading Advisor Innovations: Shirl Penney on The Modern Independent Advisor →

Dynasty Financial Partners' CEO discusses the importance of creative client engagement, establishing a five-year plan for your brand, and hiring a chief of staff.

Jeff and Bruce pull back the curtain a bit this week on how private money finds its way into RIA businesses in the form of investments. Tim Bello from Merchant Investment Management joins to share his perspective as someone whose firm makes investments and forms partnerships mainly in the wealth management space.  And no, this is not private equity. Related Article:  Fusion Family Wealth sells minority stake to MerchantRelated Article:  Allworth Financial acquires $480 million RIAGuest Bio: At Merchant, Tim Bello is engaged across all aspects of the firm, with a day to day focus on driving the company's key growth initiatives and directing the overall corporate strategy. Prior to Merchant, Tim was an early stage partner at Dynasty Financial Partners, where he was in charge of strategic implementation and advisor identification firmwide for the Dynasty Network. Prior to Dynasty, Tim was head of global platforms for New York-based alternative asset manager SkyBridge Capital, where he was in charge of building and managing the firm's global platform sales activities. Previous to SkyBridge, he was an original member of the Permal Group's Hedge Fund of Fund US Private Client Platform distribution team, where he launched and developed the firm's US distribution arm and brand. Earlier, he worked on Permal's institutional sales team, which involved interfacing with pensions, endowments, foundations and institutional consultants across the Permal product suite. Tim currently serves as special advisor to the Board for the Family Office Association in Greenwich, Conn., and is on the Membership Committee of the Core Club in New York. He is a graduate of St. Lawrence University.  

When it came to kick off Season 3 of In The Suite Podcast, I knew it was time to act bold and take risks, like so many of our guests from Seasons 1 & 2. So I abruptly canceled my December trip to Cabo, and moved by beach chair and blanket literally to Podcast Row at The MarketCounsel Summit, in the Fountainbleau in Miami Beach. And let me tell you, it was well worth it. The MarketCounsel Summit is the brainchild of Brian Hamburger, President and Chief Executive Officer of MarketCounsel and Hamburger Law Firm, and I want to dedicate this special extraordinary, first of its kind episode to him and the amazing team at MarketCounsel, to Brian's daughter Ella and to his General Manager Ryan Marcus who were instrumental to my visit and mission to support female leadership In The Suite. You're about to hear live, on-the-spot, in-person spontaneous interviews with industry leaders who continue to break the mold and shape the future of the wealth management industry: Aaron Klein - Co-Founder and CEO, RiskalyzeShirl Penny - Chief Executive Officer, Dynasty Financial PartnersJoel Bruckenstein - Financial Services FinTech Expert, Leading Industry Consultant and Producer of the Annual T3 Technology Tools for TodayShannon Spotswood - President of RFG Advisory Craig Iskowitz - Founder and CEO, Ezra GroupAllen Darby - CEO, Alaris Acquisitions Robb Baldwin - President and CEO, TradePMR George Tamer - Head of Sales, AdvisorEngineMarwa Zakharia - CEO, AssetBook Rob Sandrew - Chief Growth Officer, Integrated Partners Ryan Shanks - Co-Founder and CEO, FA Match No questions were prepared in advance nor meeting invites or fancy equipment. Just me and a mic going rogue. So ladies and gentlemen, I want you to sit back and relax as I take you into the 13th Market Counsel Summit. To hear from some of the industry's most prominent leaders. The ones making big headlines and bold moves, and redefining how the future of business gets done In The Suite. 

Episode 29: How to Find and Keep the Best Talent within Your Organization With more than 30 years of experience in Financial Services, Mason Salit, Chief Talent Officer at Dynasty Financial Partners, has a very unique vantage point on identifying and growing human capital.  Mason brings passion and joy to his day-to-day duties and discusses the importance of a strong culture of mentorship in this podcast.  Having known each other for more than 16 years, Austin and Mason share lots of stories and laughs—definitely worth a listen.

Today, we have a special guest from an industry leader in the wealth management space. Ed Swenson is one of the most successful entrepreneurs in the wealth management space. Ed is the Co-Founder and COO of Dynasty Financial Partners, a leading RIA technology services platform.Ed and I had a really interesting discussion about the future of the wealth management industry – and how alts will play a role in the evolution of the space. We discussed: How and why the wealth management industry is changing. How Dynasty is a champion of entrepreneurs in the wealth management space. The democratization of access and advice in wealth management. How and why wealth managers should have alternative investments in their portfolio. How VCs will soon realize that the RIA space will be a great source of LP capital for them. How advisors allocating to “alt alts” (like crypto, sports cards, collectibles, art) should be “on the table.” Ed co-founded and is the COO Dynasty Financial Partners, a leading RIA technology services platform that enables wealth advisors to become entrepreneurs and run their own businesses using Dynasty's platform and infrastructure across technology, operations, diligence, access to investments, and M&A capabilities.Ed and his Co-Founder Shirl have grown Dynasty to over $50 billion in aggregate AUM across almost 50 advisor teams. Dynasty is a leader in the fast-growing RIA space. They uniquely understand the needs of advisor teams who break away from wirehouses like UBS and Merrill Lynch and they've built out a tech stack and platform that is state of the art. Ed spearheads their technology approach by partnering with best-in-class fintech companies in various aspects of wealth management to build a tech platform that advisors love.Ed also recently co-founded the Envestnet Advisor Services Exchange by Dynasty, a platform that enables Envestnet clients to access the value-added services that Dynasty offers. Ed comes from a wealth management background, so he's in a unique position to understand the needs of independent advisors. Prior to Dynasty, he led the distribution network communications for Smith Barney's Multiple Discipline Accounts division and was a Portfolio Manager for the Legg Mason Partners Large Cap Growth Fund. I hope you enjoy.

After decades of contentedly growing at UBS, advisor Ahmie Baum realized he was no longer sure of leaving his legacy at the warehouse after his son Brian joined the firm. Learn how he chose to go independent, why he partnered with Dynasty Financial Partners and so much more.

Bloomberg Opinion columnist Barry Ritholtz speaks with Shirl Penney, who is the founder of Dynasty Financial Partners, a leading integrated platform services company for independent wealth-management advisory firms. Penney currently serves as Dynasty's president and CEO and is a member of its board of directors. The firm has over $60 billion in assets on its platform.

Forming personal and professional relationships with colleagues whose opinion you respect - and with whom you can have a candid discussion - is paramount to success in all areas. In this episode, Elite Consulting Partners CEO Frank LaRosa is joined by long-time friend and collaborator Austin Philbin, Chief Administrative Officer of Dynasty Financial Partners, for a just such a discussion which encompasses life, family, business, and the connectivity between them all. Topics which Frank and Austin dive into include:*looking to the development of our children in both mind and spirit as a guidepost to fostering our own growth mindset.*establishing productivity routines and focusing effort and energy in order to align goals and vision with activity.*physical fitness as the 'secret sauce' for mental acuity.*the dynamics of successful financial services teams and how the interplay between individual roles, group cooperation, and dynamic thinking lead to innovation and prosperity.*a behind-the scenes look into Dynasty Financial Partners and the firm's approach to leading its advisors to success.*what advisor independence actually means and the sources from which trends towards independence flow. As with any conversation between old friends, Frank and Austin cover a lot of ground. Take advantage of this opportunity to join in on a no-holds-barred conversation between two industry leaders, confidants, and forward-thinkers and learn the optimal strategies that can guide you towards achievement, fulfillment, and abundance in all areas of life.

Episode 24: Making the Uncomfortable, Comfortable: How to Discuss the Meaning of Wealth as a Financial Advisor Guest: Tobias Donath, Vice President, Fidelity's Center for Family Engagement The roles of financial advisors have morphed over the years.  With the democratization of products and most services, building deeper relationships with clients is critically important.  However, the path towards conversations about family values, the significance of wealth, and legacy can be challenging for some.  In this episode of the podcast, Tobias Donath from Fidelity’s Center for Family Engagement and I discuss the importance of this discussions and how to start them.  If you are an advisor thinking about how to engage with your clients in new and meaningful ways, this podcast is for you.   Dynasty Financial Partners is an independent entity and not affiliated with Fidelity Investments. Fidelity Institutional SM(FI) provides investment products through Fidelity Distributors Company LLC; clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC; and institutional advisory services through Fidelity Institutional Wealth Adviser LLC. 946333.1.0

LISTEN TO PART 1 In this episode we explore some of the hottest topics in wealth management today with Shirl… Read More The post A Conversation with Shirl Penney, President and CEO of Dynasty Financial Partners – Part 2 appeared first on AdvisorHub.

Episode 23: Homemade Volcanoes, Zoom Calls, and Snap Filters: Managing Work-Life Integration in Today's Environment One of the most obvious impacts of COVID-19 has been the need to integrate professional and family life in a much closer way.  With many schools beginning the academic year remotely, working parents are called upon to balance many new roles and responsibilities.  A silver lining in the pandemic is that families have had the opportunity to spend more time with each other than ever before.  In this episode of the podcast, I am joined by three parents, all who share their authentic journeys around navigating the new normal.  We have some laughs and some tears and some really great stories. Guests: Alex Hansen, Senior Vice President, Chief Compliance Officer, Dynasty Financial Partners Jill Russo, Vice President, Compliance, Dynasty Financial Partners Alyssa Kamangar, Associate, Finance, Dynasty Financial Partners

3 “ex-wirehouse-turned-independent-industry-leaders” in a rare single forum: Shirl Penney of Dynasty Financial Partners, Jim Dickson of Sanctuary Wealth and Rich Steinmeier of LPL Financial. They join Mindy Diamond to share an “insider’s view” of the wirehouse world, wealth management, independence, and more.

3 “ex-wirehouse-turned-independent-industry-leaders” in a rare single forum: Shirl Penney of Dynasty Financial Partners, Jim Dickson of Sanctuary Wealth and Rich Steinmeier of LPL Financial. They join Mindy Diamond to share an “insider's view” of the wirehouse world, wealth management, independence, and more.

Episode 20: Into the Great Wide Open: Perspectives of the Advisor Transition Process from the Front Lines. Into the Great Wide Open was the eight studio album recorded by Tom Petty and the Heartbreakers in 1991.  The title track follows Eddie as he embarks upon a music career in Hollywood.  Although perhaps a reach, there are several similarities between the protagonist of the song and the protagonists of the independent advisor movement.  First and foremost, the future is wide open, the sky is the limit, and there is often a sense of rebellion. On today’s episode, I am joined by Chuck Cooper, co-founder and Managing Partner of StrongBox Wealth in Lee’s Summit, Missouri and two of my colleagues, Jason Pinkham, co-founder and Managing Director at Dynasty Financial Partners and Caitlin Douglas, a Vice President and top transition specialist at Dynasty.  We will be discussing the transition process from a traditional financial institution into the independent space.  The perspective will be from the team responsible for all of the planning and execution of the move.

Joe Eschleman, president of Towerpoint Wealth, tells Louis Diamond how leaving Wells Fargo – with the help of Dynasty Financial Partners – to launch his own independent firm now allows him to fully engage with clients and prospects, freely and creatively.

Joe Eschleman, president of Towerpoint Wealth, tells Louis Diamond how leaving Wells Fargo – with the help of Dynasty Financial Partners – to launch his own independent firm now allows him to fully engage with clients and prospects, freely and creatively.

Episode 17: How Does the Math Work? Guest: Ben Bines, Senior Vice President, Network Development, Dynasty Financial Partners Compensation matters…full stop…period.  Understanding the economics of running an independent registered investment advisor is incredibly important.  The benefit in this transition from an employee to an owner is the control.  As an owner, the principals now control the decisions—how much to spend on real estate, marketing, and employee salaries. With all of the misinformation in the marketplace, it is challenging to know what is fact and what is fiction.  In today’s episode, we speak with the quantitative powerhouse Ben Bines.  Ben will walk us through the most important financial considerations when choosing the independent path and common mistakes advisors make during this process.  We’ll also spend some time dispelling myths around the cost of independence.

Episode 14: The Story of Shirl Penney and Dynasty Financial Partners From Bates College to New York City to Saint Petersburg, Florida we follow the journey of Shirl as he worked to create Dynasty Financial Partners.  We’ll talk about the financial services industry, the future, family, business, and the next stage of evolution for Dynasty.

Episode 10: Mapping Your Journey: Can I Really Use What I Like? Financial advisors need to ensure their clients will have access to great products and services when they transition to the independent space. Mutual funds, stocks and bonds all appear to be simple to transition, but what about things like precious metals, alternative investments, and corporate trusts? Cost of goods sold (COGS) is also important to entrepreneurs. We will investigate these topics and more as we talk about how to meet and exceed client expectations in a new environment. Joining us this episode are Louis Diamond, Executive Vice President and Senior Consultant at Diamond Consultants and Nick Gerace, Senior Vice President of Investments at Dynasty Financial Partners.

Episode 8: Legal, Compliance and Freedom - Making Compliance Fun Again! (Part Two)   Who would have ever thought that the topic of legal and compliance would require two episodes, but it does! Part #2 continues the discussion covering how a firm handles FINRA and the SEC when sorting through the confusion that exists when trying to satisfy both standards and how to maintain a high standard of regulatory diligence within independent wealth management firms. For this episode, we welcome back our stellar panel: Sharron Ash, Chief Litigation Counsel at Hamburger Law Firm, Leigh Emery, Chief Compliance Officer at Dynasty Financial Partners, Michael Henley, Founder and CEO of Brandywine Oak Private Wealth and Alison Brooks, Co-Founder and COO of Brandywine Oak Private Wealth.  

Once talent is acquired, it has to be retained. Learn how it works for Shirl Penney, President and CEO of Dynasty Financial Partners, and Jack Peterson, Managing Partner at Summit Trail.

Who is the most disruptive person in wealth management? It's not a robo founder. Or an index ETF CEO. Or a blogger. In fact, it is Shirl Penney, the founder of Dynasty Financial Partners, whose platform for breakaway brokers who want to become independent advisors and own their own firms has now amassed almost $40 billion in client assets over the last ten years. Shirl has changed the way wirehouse brokers and other captive financial advisors at large firms have looked at independence. He's built a machine that began under the radar but is now on the verge of pushing the incumbents into allowing a degree of entrepreneurial freedom that would have previously been unthinkable.Josh and Shirl first met during the Investment News 40 Under 40 Summit the year they both made the list. Check out this video to learn about the biggest trends in the wealth management and financial advisor business, and how Shirl is upending some of the most bedrock conventions within the industry by working harder and smarter than his competitors. You can learn more about Dynasty's solutions for breakaway brokers who want to become advisors and launch their own firms here:https://dynastyfinancialpartners.com/Shirl will be giving a keynote address to the advisors in attendance at this September's inaugural Wealth/Stack conference in Scottsdale, Arizona. Details here: https://finance.knect365.com/wealth-s...1-click play or subscribe on your favorite podcast app Subscribe to the mini podcast on iTunes or Spotify Enable our Alexa skill here - "Alexa, play the Compound show!" Talk to us about your portfolio or financial plan here:http://ritholtzwealth.com/ Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer:https://thereformedbroker.com/terms-and-conditions/ See acast.com/privacy for privacy and opt-out information.

EPISODE 6: The Next Generation of Advisors - Who will lead your firm’s future? Who will lead your firm’s future? If the answer is uncertain, then the enterprise value of your company will definitely be affected and it could even lead to clients leaving your firm. Your hosts, Gordon Ross and Ed Friedman, are joined by a panel of industry leaders to discuss how to best address these issues and attract more qualified young professionals into the industry. On the panel are David Root, CEO of DB Root & Company, and Anand Sekhar, VP of Practice Management & Consulting at Fidelity Clearing & Custody Solutions. Fidelity Clearing & Custody Solutions® provides clearing, custody or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC. Members NYSE, SIPC.Fidelity is not affiliated with Dynasty Financial Partners.  

Corey Kupfer has been working in the business of negotiations for more than 30 years, both as a successful entrepreneur and as an attorney. His goal is to help you strategize, plan for, find, and complete deals that will help your company grow rapidly. This is called “inorganic growth”, and it differs from the traditionally slow, organic growth many are familiar with. In this solo episode of Fueling Deals, Corey discusses the importance of maintaining alignment with your character and values, not only within the scope of doing deals but in all aspects of your business and life. In part one of this special two-part series covering the events and speakers of the two-day DeVoe M&A+ Succession Summit that took place on May 30-31, 2019 at The Harvard Club in New York, Corey Kupfer details the wealth of information shared by luminaries of the RIA industry. Listen to learn what's currently on the minds of Ed Swenson from Dynasty Financial Partners, Rudy Adolf of Focus Financial Partners, Mark Tibergien of BYN Mellon Pershing, David DeVoe of DeVoe & Company, and many other fascinating industry thought leaders as Corey Kupfer recaps day one of the summit! What you'll learn about in this episode: Why the trend is increasingly leaning toward growth deals, rather than deals relating to succession Why David DeVoe believes that "mega firms" will begin to appear in the landscape, and why marketing technology is an emerging trend Why firms with greater overall organic growth are also seeing a higher rate of growth via mergers and acquisitions Why DeVoe & Company weighs discounted cash flow as 85% of their valuation methodology, and why they adjust for situational factors Corey outlines a panel that featured a number of financing sources, and he discusses each of the featured members of the panel Why the marketplace is evolving to support more funding options, and why owner financing for internal successions is less necessary today Ed Swenson of Dynasty Financial Partners announced a new platform called Dynasty Connect to deliver expertise in valuation, M&A readiness, and more features Corey discusses a fireside chat between Rudy Adolf and David DeVoe, where Rudy discussed Focus Financial's commitment to never turn entrepreneurs into employees Mark Tibergien of BYN Mellon Pershing discussed why growth is a major cause of bankruptcy, why the cost of people is a major impact on profitability, and other points around the benefits of growth Why growth is one method firms use to provide a path for their top talent when the owners aren't ready to retire Why growth as a long-term strategy makes sense, but why growth for the sake of growth is evil Additional resources: Website: www.fuelingdeals.com

Corey Kupfer has been working in the business of negotiations for more than 30 years, both as a successful entrepreneur and as an attorney. His goal is to help you strategize, plan for, find, and complete deals that will help your company grow rapidly. This is called “inorganic growth”, and it differs from the traditionally slow, organic growth many are familiar with. In this solo episode of Fueling Deals, Corey discusses the importance of maintaining alignment with your character and values, not only within the scope of doing deals but in all aspects of your business and life.In part one of this special two-part series covering the events and speakers of the two-day DeVoe M&A+ Succession Summit that took place on May 30-31, 2019 at The Harvard Club in New York, Corey Kupfer details the wealth of information shared by luminaries of the RIA industry. Listen to learn what’s currently on the minds of Ed Swenson from Dynasty Financial Partners, Rudy Adolf of Focus Financial Partners, Mark Tibergien of BYN Mellon Pershing, David DeVoe of DeVoe & Company, and many other fascinating industry thought leaders as Corey Kupfer recaps day one of the summit!What you’ll learn about in this episode:Why the trend is increasingly leaning toward growth deals, rather than deals relating to successionWhy David DeVoe believes that "mega firms" will begin to appear in the landscape, and why marketing technology is an emerging trendWhy firms with greater overall organic growth are also seeing a higher rate of growth via mergers and acquisitionsWhy DeVoe & Company weighs discounted cash flow as 85% of their valuation methodology, and why they adjust for situational factorsCorey outlines a panel that featured a number of financing sources, and he discusses each of the featured members of the panelWhy the marketplace is evolving to support more funding options, and why owner financing for internal successions is less necessary todayEd Swenson of Dynasty Financial Partners announced a new platform called Dynasty Connect to deliver expertise in valuation, M&A readiness, and more featuresCorey discusses a fireside chat between Rudy Adolf and David DeVoe, where Rudy discussed Focus Financial's commitment to never turn entrepreneurs into employeesMark Tibergien of BYN Mellon Pershing discussed why growth is a major cause of bankruptcy, why the cost of people is a major impact on profitability, and other points around the benefits of growthWhy growth is one method firms use to provide a path for their top talent when the owners aren't ready to retireWhy growth as a long-term strategy makes sense, but why growth for the sake of growth is evilAdditional resources:Website: www.fuelingdeals.com See acast.com/privacy for privacy and opt-out information.

EPISODE 5:  Technology - Is My Stack Better Than Yours? There has never been more innovation when it comes to technology within the wealth management industry. With that, there has never been more confusion too! What is the best tech solution for my firm? How do I diagnose what my company needs? Once we adopt new technology software, how do I onboard it and drive adoption? Ed and Gordon are joined by a group of industry leaders who have had to answer these questions: Brian Schulte, Information Systems Senior Manager at Geller Advisors, and Paul Metzger, Technology Consultant at Dynasty Financial Partners.

EPISODE 4:  Marketing - You Mean I Shouldn't Buy a Billboard? With new technologies and strategies constantly being developed, the approach to Marketing has seen dramatic change in recent years. RIA teams and industry leaders need guidance on how to leverage this critical channel for business growth and client engagement. How do you know if you are spending too much or too little on Marketing? How do you know you are receiving a return on your investment? To answer these questions, please join our hosts Ed Friedman - National Director of Practice Management and Gordon Ross - Director Enterprise Group, Dynasty Financial Partners and their guests, Paul Strid, Co-Founder of Concentus Wealth Advisors, Gordy Abel, Chief Marketing Officer at Dynasty Financial Partners, and Justin Barish, Vice President of Digital Marketing at Dynasty Financial Partners as they explore Marketing Masterminds.

Shirl Penney is the co-founder and CEO of Dynasty Financial Partners, a back and middle office service provider for large independent RIAs. With more than $32 billion on their platform across the 47 advisory firms they support, Dynasty has focused itself purely on being a highly-scaled service provider, while allowing the firms it services to remain completely independent. In this episode, Shirl opens up about his entrepreneurial journey, as well as how he maintained focus and perseverance during the two and a half years it took for him to be able to take his first paycheck from the business. Listen in to hear how he built his company from zero to 70 employees over a decade, the sacrifices he had to make to get to where he is today, and the key lessons he learned along the way. For show notes and more visit: https://www.kitces.com/124 

EPISODE 3: M&A - The Power of Inorganic Growth So many firms want to grow inorganically and recruit established advisors to their firms and transfer their clients across, but what does this process actually entail? Is your firm M&A ready? How do you attract these advisors? What should the negotiation look like? Is the market too frothy right now? Ed and Gordon are joined by a panel of experts who live and breathe advisor recruitment every day: Mindy Diamond, Founder and CEO of Diamond Consultants, Justin Weinkle, Chief Financial Officer at Dynasty Financial Partners, and Phil Fiore, Partner and CEO at Procyon Partners.

EPISODE 1:  Women in Wall Street - When Socks Tell a Story Why have so few women joined the wealth management industry? What can the industry do to change this? What should a wealth management firm be doing to ensure it is attractive to female clients? Ed Friedman is joined by a panel of experts to discuss these questions and more: Michelle Smith, Founder and CEO of Source Financial Advisors, Penny Phillips, Founder and CEO of Thrivos Consulting, Sally Cates, Director of PR at Dynasty Financial Partners, Catherine Saunders, Head of Client Engagement Center at Putnam Investments.  

It's time to establish a marketing routine that wins! Don't miss this exciting episode featuring marketing leader and strategist for both B2B and B2C channels, and VP of Digital Marketing at Dynasty Financial Partners, Justin Barish. In this episode we discuss how to get the most out of your social platforms, the benefit of digital network referrals over word-of-mouth referrals and share first-hand career advice on how to boost your professional game and become an authentic marketing influencer.   Takeaways: Remember that referrals can come in through a digital network as well as a personal network. Make sure you are testing the different ways digital marketing gets you referrals.It will help you determine what works and what doesn't. It's strategic to develop specific messages for specific audiences BUT every message must map back to your brand DNA to maintain your overall brand integrity. For marketing to work you need a value exchange; what you're giving must be of equal or greater value than what you are asking for. Avoid a misaligned value exchange. Process comes down to routinization. Commit to being consistent and disciplined with your marketing process and you'll eventually get the results you want. It's all about small wins. Don't miss out on the progress obtained from small wins by being too obsessed with the big wins. Have confidence in your ability to do things in your own style and flow. Don't be afraid to do everything in a personalized way. Practice makes progress. It's not about perfection, it's about making progress.   Links: LinkedIn: https://www.linkedin.com/in/justin-barish/ Website: https://www.dynastyfinancialpartners.com/index Email: justinbarish@dynastyfp.com  

Like spring birds leaving the nest, many advisors will go out on their own over their professional lifetime.  And when it’s time to step away and create your own company, there can be a myriad of concerns you just hadn’t thought of before. Joining Matt in Vegas is the chairman of Dynasty Financial Partners, Todd Thomson, to discuss the advantages of finding a wealth management and technology provider when you break away from a previous firm. Dynasty is an integrated service provider for independent RIAs who are in need of some support to become more profitable. With several years of experience, Todd and his team understand the complexities that come with setting up your own firm, from which custodian you want to work with, to the technology you need to provide the best service. If you’re ready to break out on your own, be sure to listen with Todd and Matt to hear about some very important decisions you’ll need to be making! Links: Todd Thomson LinkedIn | Dynasty Financial Partners | MarketCounsel Summit  

Shirl Penney, President and CEO of Dynasty Financial Partners, joins Mindy in this episode to share insights from his own unique entrepreneurial mindset and vast industry knowledge and experience as the founder of Dynasty. They discuss the momentum towards independence and what it takes to get from here to there. [podcast]

Shirl Penney, President and CEO of Dynasty Financial Partners, joins Mindy in this episode to share insights from his own unique entrepreneurial mindset and vast industry knowledge and experience as the founder of Dynasty. They discuss the momentum towards independence and what it takes to get from here to there. [podcast]

Todd Thomson, Chairman of Dynasty Financial Partners, Former CEO of Wealth Management at CitiGroup, breaks down the economy in basic terms so we can all finally understand what's going on in this world!

On this episode, we gain insight into Dynasty Financial Partners through our conversation with its CEO and Co-Founder, Shirl Penney. Among other topics, Shirl and Matt discuss: Dynasty's service model * Shirl’s predictions about a Trump administration’s impact on the RIA space * Why Dynasty offers its employees equity * The biggest challenges facing Dynasty * What the best advisors are doing differently * Shirl’s charitable passions and interest in thoroughbred racing