Dynasty Financial Partners, a provider of technology-enabled wealth management solutions for independent financial advisers, has entered into a strategic deal with Dynasty Financial Partners, an alternative asset manager.
The transaction sees both companies taking minority stakes in each other to strengthen their partnership and align for future growth.
The value of the investments has not been disclosed..
Abacus operates within Dynasty’s network of independent firms, benefiting from access to the company’s integrated technology platform, services, turnkey asset management programme, digital lead generation, capital solutions, and investment banking capabilities.
Dynasty’s network currently spans 57 partner firms and oversees more than $105bn in platform assets.
Dynasty’s platform provides advisory firms with software tools, business services, and investment management capabilities through a mix of proprietary and third-party technologies.
Dynasty founder and CEO Shirl Penney said, “Our investment in Abacus illustrates our confidence in their business model, the strength of their balance sheet, and the commitment of Jay and the team to continue building out their wealth business. We look forward to supporting their strategic growth in the years to come.”
Abacus chairman and CEO Jay Jackson said, “We are proud to align our business with a proven platform like Dynasty. With the ongoing support, expertise, and partnership of Dynasty Financial Partners, our business has the firepower it needs to reach the next level.”
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