Industry News
Goldman Sachs strikes custody deal with Dynasty Financial Partners
Ian Wenik / Mar 26, 2025
Dynasty plans to roll out the custodial option to all 57 of its partner RIAs.
RIA middle-and-back-office service platform Dynasty Financial Partners has reached an agreement to add Goldman Sachs as a custodian for its network of wealth managers.
All 57 of Dynasty’s affiliated RIAs will have the ability to use Goldman Sachs Advisor Solutions’ offering, Dynasty chief executive Shirl Penney (pictured) told Citywire. Those 57 affiliates oversee about $105bn in combined assets.
‘It’ll be available for them to utilize in the very near term,’ Penney said.
The collaboration also means that Goldman Sachs will become an option for Dynasty’s transition services business, which helps breakaway advisors set up their own independent wealth managers. Advisors who break away from brokerage firms with Dynasty’s assistance pay Dynasty an ongoing basis point fee for ongoing access to the company’s turnkey asset management program (Tamp), tech stack and marketing support, among other services.
‘I think this relationship will grow rapidly through a combination of utilization of some of...
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citywire ria
Apr 01, 2025
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