DYNASTY DOUBLES DOWN: Dynasty Announces 100% Forgivable Loan Program; Biggest Independent ‘Up-Front’ Payment In The Industry

 In a nod to the pure heat being generated in the RIA and Independent wealth management channels, Dynasty has chosen to offer a 100% of trailing 12 revenue to advisors joining its platform. This moves is another flagpole symbolizing the ‘door dash’ by big advisors headed out of big box firms and into RIA arms. 

“We have heard advisors say that they need more liquidity,” Penney said. “And I do think it will be helpful for retention that someone doesn’t have to go somewhere else to get the capital.”

“In return for its financing, Dynasty will collect 35% of Freedom Note firms’ revenue during the term of the loan, similar to the way that roll-up competitors buy a portion of advisory practices’ cash-flows in return for upfront cash.”


“Dynasty, which bills the program as “the industry’s first forgivable note program for advisors seeking independence,” will not levy most of its traditional contractual service fees for front-, back- and middle-office services during the loan period. It typically charges between 15% and 20% of revenue for those services on their own.”

There is a larger story being told here with respect to recruiting and the state of the industry. This is a fresh shot at the tearing down of the broker protocol. Dynasty is doubling down on providing resources for advisors willing to take on any legal action brought by their previous firms by way of fresh capital. 

Up to this point an advisor or advisor team had to weigh their personal (his/her own liquid assets) and professional capital to take on the legal teams at Morgan Stanley, UBS and others. 

Now, a portion of that capital can be provided as they wade into hanging their own shingle. Dynasty will provide capital for fees and services, ostensibly providing peace of mind. 

By the way, how impressive is it that Shirl Penney and his team have built such a stout and sought after brand without a program of this sort for years? Everyone else has provided well-known transition deals for years; not Shirl and company. 

He just decided to strap a couple of turbo boosters to the engine at Dynasty.

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