Dynasty is on the ground floor of a roll-up-like venture grabbing RIAs inside the largest accounting firms
Atlanta-based Method will parachute in to take over operational and management control of wealth managers providing advisory expertise their CPA-firm parents may lack
Related Moves
Executive shake-up and staff hiring binge change Dynasty Financial Partners' talent mix, with Todd Thomson, Scott Welch, Ed Friedman and 12 women as headliners
The St. Petersburg-based producer of 'synthetic RIA scale' will continue to aggressively hire and adjust its talent ranks as it readies for next growth push.
September 24, 2019 at 2:02 AM
Pershing restores Ben Harrison as sole heir to Mark Tibergien -- for now -- but solo tenure may be temporary, with other top talent in the wings
Co-Head Maura Creekmore's departure leaves Harrison at the top by default, but the company is mum on future hiring and how much RIA autonomy gets sacrificed in name of 'convergence.'
January 19, 2023 at 3:31 AM
Dynasty Financial hires 'real deal' TD Ameritrade RIA sales talent who left after Schwab deal; he'll again mine for RIAs on Florida's Gold Coast--first big news since IPO disclosed
The St. Peterburg, Fla., technology outsourcer made its 10th Florida hire since start of year but first one on the state's Southeastern Coast
February 17, 2022 at 2:50 AM
Walt Bettinger sheds 'president' title and Bernie Clark gets new boss as Schwab appoints Rick Wurster as president and No. 2 in charge
The Schwab CEO gets 2016 'Windhaven' hire to share burden of governance from enormity of $8-trillion post-TDA, post-USAA, post-Motif growth.
December 20, 2021 at 11:59 PM
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Tiburon Strategic Advisors
Asset Manager for RIAs
Top Executive: Charles Roame
Callan Associates Inc.
Manager Research
Top Executive: Ronald D. Peyton
Pershing Advisor Solutions
Asset Custodian
Top Executive: Mark Tibergien
Elmer Rich III
Cautionary note — the rollup model, driven by spreadsheeted financial goals has proven a failure in many services areas. Specifically, in retirement plan TPAS, it has been, pretty much, a failure and destroyer of value for owners and buyers.
The incentives are all wrong. The fund raisers/acquirers are transaction focused (buy low sell high), to raise more money, but the businesses demand good income and balance sheet practices. Funder’s exit strategies and return expectations can’t be met, etc.
Also, transactional goals and relationship goals and time frames are hostile to each other. Now, of course, every acquirer says they’re “buy and hold and build” — ain’t true. Acquisition capital is too expensive.
Sadly, TPA owners that sold for promise of appreciated shares of some other entity often lost everything or bought the businesses back for pennies on the dollar. This time it may be different, of course. Or not.
