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Articles tagged "Shirl Penney"


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Shirl Penney expands his options with new $50M credit line to weather poor IPO market.

Amid poor IPO conditions and literal incoming hurricane, Dynasty Financial gets $50 million credit line, calling it 'dry powder' for 'strategic investments' to bridge to eventual public offering

The St. Petersburg, Fla., TAMP and outsourcing hub for RIAs filed for an IPO in January and now has cash on tap to ride out the poor IPO market.

September 28, 2022 at 1:50 AM

LPL chose the Booth School as a setting to say it won't abdicate the high-net-worth market to Wall Street.

LPL Financial makes 'full-service' play with a wirehouse trick and some DFA vibes by launching 'private client' offering from the University of Chicago

The San Diego broker-dealer grew to be No. 1 by backing partially served mass affluent brokers and used a symposium at the university's Booth School as a backdrop to tell its reps they can compete with Merrill Lynch.

June 17, 2022 at 12:08 AM

Shirl Penney founded Dynasty to give breakaway brokers wirehouse independence and private banker perks; now he's going public.

Dynasty Financial takes next logical step, using Wall Street powers and RIAs to beat Wall Street with an IPO, but timing surprises one expert

CEO Shirl Penney's plan may have 'more than meets the eye,' says one consultant, in response to head-scratching about the attempt at an IPO based on relatively low revenues and profits

January 28, 2022 at 12:09 AM

Matt Kilgroe: We followed the evolution of the independent space- particularly on the technology side.

Shirl Penney lands UBS team as Dynasty Financial tower-mate in a sign the breakaway movement remains explosive, despite turning to 'quiet launches' during the COVID-19 pandemic

New deals reflect branches/centralized decision-making as albatrosses in virtual world; Northern Florida is case in point -- sheltering at home is not the local practice.

June 17, 2020 at 2:29 AM

Marty Bicknell: 'It might be three to five years but this has the potential to be bigger.

With an eye to cast-aside prospects, Marty Bicknell and Shirl Penney combine to launch 1099 platform with ambitions to surpass Mariner Wealth as soon as 2025

Into a crowded field of IAR servicers, the Mariner Holdings CEO is relying on his peer at Dynasty Financial Partners to deliver its famed one-stop desktop for breakaway brokers who seek simplicity and familiarity

April 17, 2020 at 5:06 PM

Bill Crager: Broker-dealers and banks will become service providers and solution enablers for a new breed of advisor and with our partnership with Dynasty we will be able to offer support as these models emerge and evolve.

After finally knocking down a wall at LPL, Envestnet takes a minority stake in Dynasty Financial, puts Bill Crager on the board and prepares for future upmarket

The Chicago outsourcer hopes to go deeper with big RIAs and enterprises -- starting with an exchange of B2B loans and other wares from Shirl Penney's firm.

January 10, 2020 at 2:33 AM

Todd Thomson: In the past 12 months, it's become more of a normal [hands-off] chairman role.

Executive shake-up and staff hiring binge change Dynasty Financial Partners' talent mix, with Todd Thomson, Scott Welch, Ed Friedman and 12 women as headliners

The St. Petersburg-based producer of 'synthetic RIA scale' will continue to aggressively hire and adjust its talent ranks as it readies for next growth push.

September 24, 2019 at 2:02 AM

Shirl Penney: We have deployed capital at over 35 client firms with no issues.

Dynasty Financial was like the roll-up with no financial engineering; now Shirl Penney is hacking capital left and right for an M&A machine and a poaching parlor

The new 'Freedom Note' adds to last month's M&A division rollout and other means to juice inorganic growth -- even with a world of new risks

June 21, 2019 at 10:23 PM

Jason Fertitta: We are excited to be able to work from the same side of the desk as our clients

Shirl Penney and Brian Hamburger gang-tackle largest breakaway of 2019 as Jason Fertitta, Team Americana bolt Morgan Stanley to form Schwab RIA

The Dynasty CEO and MarketCounsel CEO fended off the logistical and legal furies for small team with $6 billion in AUM and average accounts of $50 million

April 29, 2019 at 5:11 PM

Angela Gingras: It’s incredibly exciting to be part of Dynasty’s ambitious business plan for expansion, while also advancing the success of top independent advisors utilizing the integrated turnkey asset management platform.

A near $16B TAMP grows in Tampa (no pun intended), as Dynasty Financial Partners taps local talent for first poach--21-year RayJay veteran Angela Gingras

New on the Tampa/St. Pete scene, Dynasty CEO, Shirl Penney is pushing the 50% of $32-billion in assets that generate strong revenues

March 1, 2019 at 1:40 AM

Shirl Penney: 'It's a big deal and I had to lead it myself.'

Shirl Penney flies south, taking Dynasty Financial Partners to St. Petersburg in advance of a hiring spree, but won't kiss-off the Big Apple just yet

The CEO and co-founder is taking his firm to Raymond James' hometown, where he hopes to tap local talent and recruit some snow birds, as well

February 19, 2019 at 3:00 PM

Shirl Penney: The result should be very large firms powered by Dynasty with billions of additional assets on their platforms.

Dynasty Financial 2.0 takes big RIAs and applies 'McKinsey' tenets to extrude grand growth -- a leap from midwifing brokers to RIA status then nursing them to health

CEO Shirl Penney will use white glove around an iron fist of change in higher-priced, more customized consulting service-- presuming that the market materializes on cue

June 26, 2018 at 4:39 PM

Rudy Adolf: A key reason for our partnership is the vision we share for continued growth.

Focus Financial files for IPO to raise $100 million, with 'interesting' timing

Private equity bought the New York-based roll-up a year ago and its revenues are growing about 20%

May 24, 2018 at 5:15 PM

Mike Durbin: I've never seen us more strategically anxious.

Mike Durbin says Fidelity Institutional has heightened 'strategic anxiety' softened by its best asset growth ever

His $2.6-trillion unit's 2017 asset growth includes big adds from AssetMark, Sepio, Carson Group and Principal Securities

March 23, 2018 at 3:19 AM

Lori Hardwick: We get three to four calls a week of people wanting to invest.

How Lori Hardwick's startup -- funded to the gills -- may co-opt the advisor desktop by creating an overarching open architecture

The co-founder's AI Labs is a portal-of-portals software that means to create -- and just may -- a virtual mono-custodian, mono-software platform

March 15, 2018 at 1:53 AM

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