Wealth Management Enterprise Of The Year: Dynasty, Kestra And Osaic

WSR Names Dynasty Financial Partners, Kestra Holdings And Osaic As Wealth Management Enterprises Of The Year

The WSR Wealth Exemplar Awards for Wealth Management Enterprise of the Year go to the top three wealth management enterprises, offering a full-service experience to financial advisors across multiple stages of their business life cycle, that support either W-2 or independent professionals, or both.

Dynasty Financial Partners

Shirl Penney, CEO, Dynasty Financial Partners
Shirl Penney, CEO, Dynasty Financial Partners

With over $80 billion on its platform, St. Petersburg, Florida-based Dynasty Financial Partners primarily serves advisors focused on ultra-high and high net worth clients. Now in its 14th year, the firm’s network comprises over 300 independent advisors, and it emphasizes both advisor independence and the separation of products and services, advice and custody to avoid conflicts of interest.

The firm provides models for both tuck-ins and starting an RIA, transition services, core business functions, its investments platform and a range of business growth support services. In addition, Dynasty also provides M&A services through its investment bank, which it launched last year, including advising both buy- and sell-side wealth and investment management firms and providing capital solutions.

In September, the firm appointed Andrew Marsh to the newly created role of Vice Chairman and in July, it named former CNBC anchor Ron Insana as Chief Market Strategist.

Kestra Holdings

James Poer, CEO, Kestra Holdings
James Poer, CEO, Kestra Holdings

With 1,800 advisors across five businesses, Kestra Holdings has $111.3 billion in assets under administration and $60 billion in assets under management. The firm provides a multi-channel, nationwide wealth management network that aims to provide a complete set of solutions for independent financial advisors, including investment solutions, technology services, succession and monetization, trust services and support for the middle and back office.

Its businesses include Kestra Financial, Kestra Private Wealth Services (Kestra PWS), Kestra Investment Management, Bluespring Wealth Partners and Arden Trust Company. Kestra Financial’s partnership models include independent professionals, retirement specialists and wirehouse breakaways. Kestra PWS supports independent advisory and professional teams with an independent RIA and affiliated broker-dealer. Kestra Investment Management provides portfolio solutions and market insights. Bluespring focuses on advisors seeking succession planning.

Osaic

Jamie Price, President & CEO, Osaic
Jamie Price, President & CEO, Osaic

With $506 billion in client assets, Osaic supports over 10,500 independent financial advisors. It rebranded from Advisor Group in June 2023, announcing plans to unite and streamline operations across eight subsidiaries over the following 18 to 24 months, which the firm refers to as the “Journey to One.” Through the uniting of operations, the firm aims to provide advisors with access to all the capabilities, resources and expertise provided by the firm’s scale.

Half of the firm’s advisors have already transitioned to the new entity, with the remainder expected over the following months. The firm credits the Journey to One with increased recruiting success, with a 240% gain in recruited assets in 3Q 2023 versus the same period in 2022.

In December 2023, Osaic also acquired Lincoln Wealth, a transaction that received a separate WSR Wealth Exemplar Award in the Deal of the Year category.

James Miller, Contributing Editor & Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com.

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