Dynasty Monetary Companions, the St. Petersburg, Fla.-based help platform for registered funding advisors, has added Goldman Sachs Advisor Options as a most popular custodian for its RIA community.
Goldman Sachs joins Schwab, Constancy and BNY Pershing as custodians that Dynasty will suggest to its RIA purchasers, which at present contains 57 companion companies representing over 500 advisors and over $105 billion in property.
Goldman is now absolutely built-in into Dynasty’s expertise stack, funding and turnkey asset administration platforms. This contains Goldman Sachs Asset Administration, with the agency’s fastened earnings and fairness managers now accessible inside Dynasty’s expertise.
Dynasty founder and CEO Shirl Penney has a historical past of utilizing Goldman Sachs for funding banking. The financial institution helped when the agency was looking to go public a number of years in the past.
“Goldman Sachs is likely one of the premier manufacturers in monetary companies on this planet,” Penney mentioned. “For me as an entrepreneur, probably the most vital moments of my life was elevating capital for my child—for the enterprise, and I turned to Goldman Sachs.”
Penney mentioned the mixture of what Goldman and Dynasty present collectively will make advisors extra assured in regards to the transfer to independence.
“Whenever you’re a non-public wealth advisor at considered one of these bigger organizations, you’re trying to test the field on a complete host of various issues to get you snug for your self and your purchasers to make the transfer to independence,” Penney mentioned. “I believe it’s going to unlock extra alternative for the RIA area for bigger, extra refined advisor groups, with bigger and extra refined finish purchasers to now be assured that they will make the transfer to independence.”
Advisors who select to make use of Goldman may have devoted transitions and repair groups at Dynasty and Goldman to supply custody, TAMP, buying and selling companies and billing options. Along with Goldman Sachs’ asset administration merchandise, advisors may even get entry to securities-backed lending, structured merchandise, buying and selling capabilities, analysis and capital markets. Penney expects Dynasty’s companion companies to increase their use of those capabilities over time.
“I believe that is the proper instance of how we’re in a position to ship the very best of Goldman Sachs, spanning throughout a mess of high-net-worth options in asset administration, custody, lending, equities and stuck buying and selling and capital markets. It offers us a car to additional increase our breadth and attain and additional exhibits our dedication to the RIA area,” mentioned Adam Siegler, companion and head of OneGS RIA Strategy and retail consumer phase at Goldman Sachs.
