Dynasty Teams with Nasdaq Private Market
Dynasty Financial Partners and Nasdaq Private Market (NPM) have partnered to offer private company shareholders access to wealth management and advisory services.
NPM clients will now have direct access, within the NPM SecondMarket Liquidity Platform, to wealth advisory services through the Dynasty Connect RIA network, a concierge service for private company employees to help them identify an RIA or advisory firm. The partnership will help NPM clients participating in private company secondary liquidity events have access to investment and tax planning services.
The partnership with Dynasty marks the first investment management team to join NPM’s Wealth Connect initiative to help provide advisory services directly to private company employee equity holders.
“It simply makes sense for investors who are creating wealth through NPM’s platform to have the opportunity to safeguard it with an independent, impartial advisor who puts their needs first,” said Dynasty founder and CEO Shirl Penney.
Last month, St. Petersburg, FL-based Dynasty joined the model portfolio business with the launch of Model Select, a program designed to enable members of its network to outsource investment management functions. In early October, the firm closed a minority capital raise, with backing from BlackRock and J.P. Morgan Asset Management. The capital raise reportedly values the firm at $800 million.
To date, 58 firms representing over 400 advisors with more than $100 billion in platform assets are affiliated with Dynasty. NPM has executed more than $55 billion in transactional value across more than 760 company-sponsored liquidity programs for venture-backed private companies as well as over 200,000 individual shareholders and investors. Its primary business lines include company solutions, its SecondMarket trading marketplace, transfer and settlement, and tape DTM data and analytics.
