Dynasty Financial Partners, a service provider to wealth managers that has more than $30 billion on its platform, is relocating its headquarters from New York to St. Petersburg, Fla.
The company, which has 47 affiliated registered investment advisory firms, will maintain its New York office, and employees will continue to operate out of Chicago and San Francisco. It plans to make the move in the second quarter to 200 Central Avenue.
A yearlong search for a city to relocate to ended when the firm decided on the Tampa Bay area. The company was looking for a high quality of life for its team, robust infrastructure and a strong talent pool, Dynasty said in a statement.
It intends to hire new St. Petersburg-based employees across the entire company, including business development, relationship management, technology, operations, client service, investments, human resources, legal and compliance.
“I am so pleased to have one of today’s most innovative and entrepreneurial firms in the wealth management industry choose St. Pete for their next headquarters location, where they will be among one of the best financial services sectors in the nation," St. Petersburg Mayor Rick Kriseman said in a statement. "We are all excited to welcome their clients, advisors and investors to St. Pete over the many years to come.”
Shirl Penney, president and CEO of Dynasty Financial Partners, founded the firm in 2010, and it grew as it helped brokers leave the four wirehouses to start their own RIAs.