Dynasty Financial Partners drops its passive-referral strategy and hires a ex-HighTower talent to engineer proactivity
Ed Friedman, once at Elliot Weissbluth's left hand, becomes right-hand man of Shirl Penney after two years of cooling his heels after departure from HighTower
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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
Biz Briefs: Vanguard's tax-loss harvest yields a caveat• Vermont green with envy ... of red states? • CFP Board spends $12 million on bungee metaphor • BlackRock isn't neutral on Credit Suisse • Women are the Goliath of 'David' in UK finance
Tax-loss harvest gains may have some home assembly required, says Jeff DeMaso • Adrian Johnstone is now in the driving seat at Practifi • CFP Board spending just topped $150 million • and Vermont shares some Texas thinking on ESG investing.
March 25, 2023 at 1:32 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
Envestnet nabs Dani Fava to cross-pollinate semi-autonomous units and reap 'financial wellness' as the end product
The Chicago outsourcer has a massive, partially disconnected arsenal of products that CEO Bill Crager is rationalizing into 'wellness' with yet another new unit.
July 23, 2020 at 1:42 AM
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Stephen Winks
With the addition of Ed Friedman, Dynasty is beginning to create a true4 advisory services infrastructure rather than just extrapolate the conventional brokerage advice model which sells advice as a product.
Will Dynasty be the first firm to create large scale institutionalized support for advisory services where advisor have control over their value proposition, cost structure, margins and professional standing? This requires an expert prudent process (asset/liability study, investment policy, portfolio construction, monitoring and management) that makes expert fiduciary standing safe to acknowledge , a functional division of labor (Advisor, CAO, CIO) that makes advice scalable easy to execute and manage as a high margin business at the advisor level, advanced technology that supports continuous comprehensive counsel, streamlines cost and a more modern approach to portfolio construction as required for fiduciary standing?
If dynasty can distinguish itself fro a brokerage firm in support of fiduciary standing in the consumers best interest it will have created a compelling option for brokers and advisors who have no choice working for brokerage firms or limited by the support of cstodians which are agnostic in their support of advisory services.
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Jeff Spears
GREAT HIRE – Ed has a proven track record of success and also understands how to position Dynasty versus the roll-up firms like HighTower
Michael Mainardi
Ed, congratulations! When you’re settled in I’d enjoy the opportunity to connect. Differentiation in an increasingly competitive marketplace is king.
Stephen Winks
It might not be fair to place the expectation of transformational innovation on Ed without the requisite corresponding resources necessary to execute. There have been many instances in the industry where there was the responsibility to execute with out the latitude to execute entailing corporate policy, resources and assets.
Ed’s new position carries with it the humility of Dynasty’s limited but self imposed ability to execute.
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