Leverty Financial Group, an independent wealth management firm with $$400 million in client assets, has partnered with Dynasty Financial Partners to launch a new registered investment advisor.
Michael Leverty is making the transition after spending 18 years at Northwestern Mutual, according to a news release.
Based in Hudson, Wis., Leverty Financial Group has seven team members, including two lead advisors. It specializes in helping clients’ transition into retirement, with an emphasis on planning for corporate executives and their families.
Leverty said the team needed a more customized approach as the practice has grown and become more complex, and they are looking forward to working with Dynasty in taking it to the next level. “The transition offers an enhanced operational investment platform, including portfolio management and research, cutting edge technology for both our team and clients, along with access to elite industry practice management consultants,” he said in a statement.
The firm has selected Pershing as its custodian and its technology partners include Black Diamond and eMoney, the release said, noting that the continued partnership with Pershing, which is the clearing and custody firm for Northwestern Mutual, was an important factor in providing continuity for their clients during the transition.
John Sullivan, Dynasty’s director of network development in the central division, said Leverty Financial Group is highly skilled with strong credentials delivering complex wealth planning and investment management to an increasingly sophisticated client base. “We expect to see significant growth in their business near term as they transition to the fully independent RIA model supported by Dynasty, and we believe that the success of firms like Leverty Financial Group will inspire other like-minded advisors to walk the road to true independence,” he said.
Shirl Penney, CEO of Dynasty Financial Partners, added that they are seeing an increasing number of advisors coming from large independent broker dealers choosing the road to independence, and in many cases, the advisors have outgrown that platform and are ready to graduate on to more sophisticated capabilities.
St. Petersburg, Fla.-based Dynasty Financial Partners provides wealth management and technology platform services to select independent financial advisory firms.