US-headquartered wealth management start up, Dynasty Financial Partners, has expanded in Missouri by adding on a team of advisers from Archford Capital Strategies, a Merrill Lynch breakaway team in the St. Louis suburbs.
The adviser group managed US$420 million in client assets at Merrill Lynch, where it had been known as the Maher Group. It is headed by 12-year Merrill veteran James Maher, and "specialises in working with closely held companies and business transitions".
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Archford is the 17th firm to partner with Dynasty, bringing the total assets on the firms’ platform to approximately US$16.5 billion, according to Shirl Penney, former Citigroup Inc executive who founded Dynasty in 2010.
Dynasty offers technological and administrative support for advisers who want to go independent but lack the backing of a big firm. The firm has expanded by partnering with veteran adviser teams.
Archford’s specialisation in client financial transitions is "very significant" for Dynasty, Penney said. "It puts in a great position to service the client and be there for them after the transition event."
Joining Maher as principals at Archford are John Russo, chief operating officer; Jerry West, chief investment officer and Robert Schlueter, director of operations.
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