Dynasty Financial Partners, a wealth-tech platform for financial advisors, has entered a custody deal with Goldman Sachs.
The move makes Goldman Sachs Custody Solutions one of the preferred custodians for Dynasty’s independent RIA network.
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Dynasty Financial Partners and Goldman Sachs Custody Solutions is set to integrate with Dynasty’s Turnkey Asset Management Programme (TAMP).
Goldman Sachs’ asset management solutions are anticipated to add “significant value” to the Dynasty network.
Furthermore, dedicated transition teams from both Dynasty and Goldman Sachs Custody Solutions will work together to offer custody, TAMP, trading services, and billing solutions to RIAs.
The aspects of the collaboration are set to improve Dynasty’s asset management, investment banking, and lending services, providing comprehensive support and added value to advisors.
Dynasty Financial Partners founder and CEO Shirl Penney said: “Goldman Sachs is one of the premier global brands in financial services.
“By integrating Goldman Sachs’ custodial services, asset management, lending, and capital markets expertise into Dynasty’s full suite offering for RIAs, we are significantly enhancing the breadth and quality of services available to our network of Independent Advisors.”
Dynasty currently has 57 network partner firms, with over 500 advisors and more than $105bn in platform assets.
Last month, Goldman Sachs appointed Elizabeth Overbay as CFO of its asset and wealth management division, overseeing $3.1tn in assets. She succeeds Thomas Manetta, who will move to a role in corporate compensation within HR.
