Abry Partners and Charles Schwab invest in wealth management firm Dynasty Financial Partners

Several of Dynasty’s existing investors and directors of the board have invested additional capital alongside Abry and Schwab in the round.

  • Dynasty intends to use some of this capital to invest in technology and technology integrations
  • The company also plans to invest in the growth of Dynasty Capital Strategies
  • Goldman Sachs acted as financial advisor to Dynasty on the transaction

Abry Partners and The Charles Schwab Corporation have become minority investors in St. Petersburg, Florida-based Dynasty Financial Partners, a wealth management firm. No financial terms were disclosed.

Several of Dynasty’s existing investors and directors of the board have invested additional capital alongside Abry and Schwab in the round. Additionally, several firms in the Dynasty Network have invested in Dynasty as part of an ‘equity swap’ program that has been launched concurrent with the round.

Dynasty intends to use some of this capital to invest in technology and technology integrations. The company also plans to invest in the growth of Dynasty Capital Strategies, making further equity investments in its network of clients and making capital available for inorganic growth. The company will also explore select opportunities for corporate development and M&A. A portion of the investment round will be used to fund secondary transactions to provide liquidity to long-time shareholders and founders of Dynasty.

As previously announced in September of this year, Dynasty closed a $50 million credit facility from RBC Capital Markets, UMB Bank, J.P. Morgan, Citibank, and Goldman Sachs Bank that provides access to additional growth capital.

“When looking at the RIA space and the growing ecosystem around it, Dynasty was one of the select brands we had been following for some time. We are thrilled to have the opportunity to invest in the leading wealth technology and integrated services platform in the RIA space and are looking forward to putting all of Abry’s resources behind the growth of the firm and its clients,” said James Scola, a partner at Abry in a statement.

Goldman Sachs acted as financial advisor to Dynasty on the transaction while Sullivan & Cromwell LLP provided legal advice.

Currently, Abry manages over $5 billion of capital across its active funds.

The Charles Schwab Corporation is provider of financial services, with 33.6 million active brokerage accounts, 2.3 million corporate retirement plan participants, 1.7 million banking accounts, and $7.32 trillion in client assets as of November 30, 2022.