Dynasty Financial Partners has created a division known as Dynasty Enterprise Group (DEG) for network partner firms managing over $1bn in assets.

DIG will address the growth opportunities and challenges faced by larger advisory firms. It will offer consultation on multiple aspects such as technology, marketing, compliance, investment process, operations, profitability, practice management, talent management, mergers and acquisitions, and capital structure.

Dynasty COO Ed Swenson said: “Firms of this size are presented with unique opportunities and complexities that require a specified solution set – one that DEG will afford them.

“We have tapped Ed and Gordon to run this specialised division because their combined experience working with some of the industry’s most well-run advisory practices will enable them to provide customised services to these larger RIAs, helping them further professionalise, scale and grow their businesses.”

The unit will be headed by director Ed Friedman and senior vice president Gordon Ross and will launch its first national best practices workshops next month.

“We are seeing significant demand from these large, complex RIAs, seeking assistance in order to drive change, increased profitability and modernisation within their businesses. DEG will give these firms metrics by which to measure performance, help them optimise their operational efficiencies and provide insights and resources to maximise their growth,” Friedman noted.