Dynasty Financial Partners announced on Tuesday that it has closed a minority capital raise with new partners BlackRock and J.P. Morgan, alongside existing partner Charles Schwab, to drive its continued growth.
“Several of Dynasty’s long-standing investors and members of its Board of Directors supported the round, along with three strategic investors, including existing investor The Charles Schwab Corporation and new investors BlackRock and J.P. Morgan Asset Management,” the firm’s statement said.
According to the firm, all proceeds from the investment round will be directed toward Dynasty’s business to enhance its platform.
“I couldn’t be more excited for our clients as we continue to make significant investments in technology, talent, and capabilities to better serve them. Additionally, the strengthening of our balance sheet will allow us to provide more capital to support our clients who are looking to grow their businesses through mergers and acquisitions or achieve succession planning goals,” commented Shirl Penney, CEO and founder of Dynasty.
Dynasty’s network primarily consists of clients who own and operate RIAs that leverage Dynasty’s integrated technology, services, turnkey asset management program (TAMP), digital lead generation services, capital solutions, and investment bank.
“This industry-leading integrated RIA platform model provides synthetic scale, allowing Dynasty-powered RIAs to be Independent But Not Alone. Currently, Dynasty has 58 Network Partner firms representing over 400 advisors with more than $100 billion in platform assets,” the statement added.
Dynasty has an unused $50 million line of credit from Citibank, Goldman Sachs Bank, J.P. Morgan, RBC Capital Markets, and UMB Bank, providing access to growth capital in addition to its strong balance sheet.
Dynasty Investment Bank acted as the exclusive financial advisor to Dynasty Financial Partners in the transaction. Sullivan & Cromwell LLP served as legal counsel for Dynasty Financial Partners.
For Amaya Uriarte