Abry Partners, a North American private equity investment firm, and the Charles Schwab Corp., a provider of financial services with $7.32 trillion in client assets, have made minority investments in Dynasty Financial Partners, a wealth management and business services company for financial advisory firms.
Dynasty’s network of clients own and operate independent RIAs that utilize Dynasty’s technology, services and business services, turnkey asset management program (TAMP) and capital services. Several of Dynasty’s existing investors and directors of the board have also invested additional capital in the round. Dynasty aims to use some of this capital to make investments in technology and technology integrations, add services to its core services offering, build out its TAMP and investment services offering, and add intellectual capital and talent.
“I welcome Abry and Schwab as minority investors and look forward to the fresh perspective, industry experience, and institutional expertise that Abry will add to the boardroom,” says Harvey Golub, Dynasty’s chairman. “Similar to Envestnet’s strategic investment in Dynasty in 2020, we welcome Schwab’s minority investment in Dynasty to further align our commitment to the independent wealth management space.”
Goldman Sachs & Co. LLC acted as financial advisor and Sullivan & Cromwell LLP acted as legal advisor to Dynasty on the transaction.