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Goldman Sachs Team With $1 Billion in Assets Goes Independent

DG Wealth Partners is the second Goldman Sachs team to partner with Dynasty.

Two Goldman Sachs Private Wealth Management advisors overseeing $1 billion in client assets have left the investment bank’s brokerage to start their own registered investment advisor, DG Wealth Partners. 

David Darby and Melissa Gray, who worked for Goldman Sachs in the bank’s Palm Beach, Fla. office, announced Tuesday that they left the firm and joined Dynasty's network of advisory firms. Dynasty Financial Partners provides support services and a customizable advisory platform to independent advisory firms. 

“We looked at our options thoroughly and decided on the independent space,” Darby said. “We think the future of the financial management business is in the independent space.”

Dynasty CEO Shirl Penney said DG Wealth Partners is the 44th firm to partner with the company and the second to join from Goldman Sachs. The other, Next Capital Management in New York, began using Dynasty’s platform in April.

Darby will be the managing partner of DG Wealth Partners, responsible for cash-flow needs, planning goals and risk tolerance. He was an advisor at Goldman Sachs for 21 years and headed the Palm Beach office. Gray will serve as the director of client relations, managing daily operations of the firm and client relationships. She has more than a decade of experience and worked at Goldman Sachs for seven years.

Their RIA will focus on servicing entrepreneurs, executives and families with complex financial portfolios. They will continue to serve the Palm Beach area but intend on growing their national footprint.

While being an advisor is entrepreneurial in nature, Darby said he and Gray are looking forward to running their own business and view it as an opportunity for both of them to grow professionally. Neither Dynasty Financial Partners nor the firms using their platform have any ownership stake in the other. 

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