BlackRock, JP Morgan AM Invest in Dynasty Financial Partners 

Dynasty Financial Partners closed a minority capital raise, with backing from BlackRock and J.P. Morgan Asset Management, as it looks to fuel ongoing growth. Several of Dynasty’s existing investors and members of its board of directors also supported the round, including The Charles Schwab Corporation. 

The capital raise reportedly values the back-office services provider for financial advisory firms at $800 million.  

“I could not be more excited for our clients as we continue to make significant investments in technology, talent, and capabilities to serve them better,” said Dynasty CEO and founder Shirl Penney. The capital will allow the firm to back its clients “who are looking to grow their businesses via M&A or achieve succession planning goals,” he added. 

Dynasty’s network consists mostly of clients who own and operate independent RIAs that leverage its technology, services, turnkey asset management program (TAMP), digital lead generation services, capital solutions, and investment bank. Currently, Dynasty has 58 network partner firms representing over 400 advisors with over $100 billion in platform assets. 

BlackRock and JP Morgan Asset Management are not new to investing in the RIA market. Both companies are minority investors in GeoWealth, a TAMP provider, with BlackRock purchasing a stake in the $30 billion company in July. JP Morgan also purchased 55ip, a tax loss harvesting technology startup, in 2020. 

Dynasty Investment Bank served as exclusive financial advisor to Dynasty Financial Partners on the transaction. Sullivan & Cromwell LLP served as the legal advisor to Dynasty Financial Partners.