An advisor team that managed $585 million in client assets at Wells Fargo has joined the Dynasty Financial Partners advisor network as the Hofstetter Baron Group of DayMark Wealth Partners, Dynasty said Tuesday.
The new Southport, Connecticut-based advisor team plans to leverage Dynasty’s technology and tools to better serve its clients, according to Dynasty.
Advisors Thomas Hofstetter and Daniel Baron advise high net worth families and individual investors.
They chose to break away from Wells Fargo to help their clients achieve their goals via customized financial planning, personalized advice and institutional-quality portfolio management, Dynasty said.
“The RIA space has matured to the point we can offer our clients even more than they’ve come to expect,” according to Baron.
“Becoming truly independent, teaming with DayMark Wealth Partners and Dynasty Financial Partners equips us to exceed expectations – especially when it comes to the in-depth planning our families require,” he said.
Shirl Penney, CEO of Dynasty Financial Partners, sees the addition of the Hofstetter Baron Group as proof “the model Mike Quin and his team are building resonates with the largest and most ambitious breakaway advisors out there – the very firms with the most choice when it comes to finding a new home.”
DayMark Wealth Partners, based in Cincinnati, Ohio, had $2.5 billion in assets under management prior to this acquisition. It receives custodial support from Fidelity Investments and Charles Schwab.
The Dynasty Network had $85 billion in assets under administration as of the end of 2023, it says at its website.
Jeff Berman, Contributing Editor & Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com
