Articles tagged "Shirl Penney"
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The broad spectrum friendship of Brian Hamburger and Shirl Penney now includes sharing most of a $5-million bet into proving that SmartRIA lives up to its straight-A name
The principals of MarketCounsel and Dynasty Financial go all-in on software that keeps RIAs all good with the SEC -- without being all-consumed by an unrelenting task.
April 11, 2023 at 1:29 AM
Shirl Penney lands hot cash in cold market, raising $100 million (says source) to 'charge onto the offensive' as competitors 'hunker down' under debt
The CEO and co-founder of Dynasty Financial Partners salves IPO pain by cobbling cash from existing backers, a Boston private equity firm, Abry, and even RIA custody partner, Schwab, at valuation near $500 million.
December 20, 2022 at 2:37 AM
Amid poor IPO conditions and literal incoming hurricane, Dynasty Financial gets $50 million credit line, calling it 'dry powder' for 'strategic investments' to bridge to eventual public offering
The St. Petersburg, Fla., TAMP and outsourcing hub for RIAs filed for an IPO in January and now has cash on tap to ride out the poor IPO market.
September 28, 2022 at 1:50 AM
LPL Financial makes 'full-service' play with a wirehouse trick and some DFA vibes by launching 'private client' offering from the University of Chicago
The San Diego broker-dealer grew to be No. 1 by backing partially served mass affluent brokers and used a symposium at the university's Booth School as a backdrop to tell its reps they can compete with Merrill Lynch.
June 17, 2022 at 12:08 AM
Dynasty Financial takes next logical step, using Wall Street powers and RIAs to beat Wall Street with an IPO, but timing surprises one expert
CEO Shirl Penney's plan may have 'more than meets the eye,' says one consultant, in response to head-scratching about the attempt at an IPO based on relatively low revenues and profits
January 28, 2022 at 12:09 AM
Shirl Penney lands UBS team as Dynasty Financial tower-mate in a sign the breakaway movement remains explosive, despite turning to 'quiet launches' during the COVID-19 pandemic
New deals reflect branches/centralized decision-making as albatrosses in virtual world; Northern Florida is case in point -- sheltering at home is not the local practice.
June 17, 2020 at 2:29 AM
With an eye to cast-aside prospects, Marty Bicknell and Shirl Penney combine to launch 1099 platform with ambitions to surpass Mariner Wealth as soon as 2025
Into a crowded field of IAR servicers, the Mariner Holdings CEO is relying on his peer at Dynasty Financial Partners to deliver its famed one-stop desktop for breakaway brokers who seek simplicity and familiarity
April 17, 2020 at 5:06 PM
After finally knocking down a wall at LPL, Envestnet takes a minority stake in Dynasty Financial, puts Bill Crager on the board and prepares for future upmarket
The Chicago outsourcer hopes to go deeper with big RIAs and enterprises -- starting with an exchange of B2B loans and other wares from Shirl Penney's firm.
January 10, 2020 at 2:33 AM
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
Dynasty Financial was like the roll-up with no financial engineering; now Shirl Penney is hacking capital left and right for an M&A machine and a poaching parlor
The new 'Freedom Note' adds to last month's M&A division rollout and other means to juice inorganic growth -- even with a world of new risks
June 21, 2019 at 10:23 PM
Shirl Penney and Brian Hamburger gang-tackle largest breakaway of 2019 as Jason Fertitta, Team Americana bolt Morgan Stanley to form Schwab RIA
The Dynasty CEO and MarketCounsel CEO fended off the logistical and legal furies for small team with $6 billion in AUM and average accounts of $50 million
April 29, 2019 at 5:11 PM
A near $16B TAMP grows in Tampa (no pun intended), as Dynasty Financial Partners taps local talent for first poach--21-year RayJay veteran Angela Gingras
New on the Tampa/St. Pete scene, Dynasty CEO, Shirl Penney is pushing the 50% of $32-billion in assets that generate strong revenues
March 1, 2019 at 1:40 AM
Shirl Penney flies south, taking Dynasty Financial Partners to St. Petersburg in advance of a hiring spree, but won't kiss-off the Big Apple just yet
The CEO and co-founder is taking his firm to Raymond James' hometown, where he hopes to tap local talent and recruit some snow birds, as well
February 19, 2019 at 3:00 PM
Dynasty Financial 2.0 takes big RIAs and applies 'McKinsey' tenets to extrude grand growth -- a leap from midwifing brokers to RIA status then nursing them to health
CEO Shirl Penney will use white glove around an iron fist of change in higher-priced, more customized consulting service-- presuming that the market materializes on cue
June 26, 2018 at 4:39 PM
Focus Financial files for IPO to raise $100 million, with 'interesting' timing
Private equity bought the New York-based roll-up a year ago and its revenues are growing about 20%
