Dynasty Financial Partners secures financial backing from BlackRock and J.P. Morgan Asset Management in its latest funding round, strengthening its position as a premier service provider for wealth management firms. Known for offering back-office solutions and other critical support to RIAs, Dynasty continues to attract strategic investment from major industry players.
Several existing investors, including Charles Schwab, participated in the minority capital raise. Schwab first invested in Dynasty in 2022 after the firm postponed its IPO plans due to challenging market conditions. Instead of going public, Dynasty opted to sell minority stakes to Schwab and private equity firm Abry Partners.
While terms of the latest transaction remain undisclosed, a source familiar with the deal reports that the round values Dynasty at $800 million. The company plans to utilize the new funds to enhance its platform, accelerate growth, and provide capital for wealth management clients aiming to expand through mergers and acquisitions.
“I couldn’t be more excited for our clients as we continue making significant investments in technology, talent, and capabilities to better serve them,” said Dynasty CEO and Founder Shirl Penney.
Dynasty Chairman Harvey Golub also emphasized the importance of this investment, noting, “The backing and support from some of the world’s largest custodians, asset managers, and banks is a significant milestone for our firm.”
Founded 14 years ago by Penney and headquartered in St. Petersburg, Florida since 2019, Dynasty specializes in helping advisor teams with large AUM leave traditional brokerage firms and establish their own RIAs.
Dynasty supports its RIA clients with a range of services, including technology solutions, a turnkey asset management program (TAMP), and investment banking services. Currently, Dynasty’s RIA network includes 58 partner firms managing over $100 billion in platform assets.
