Advisors can now access many of the benefits of working with Dynasty Financial Partner through technology they already use.

Through a partnership with Envestnet, St. Petersburg, Fla.-based Dynasty Financial Partners is making many its services for RIAs available to non-partner firms for the first time.

The Envestnet Advisor Services Exchange by Dynasty (ASx) program will offer Dynasty’s vaunted valuation and financing services for advisors to advisors using Envestnet Analytics’ Recommendation Engine among its eight services and tools intended to help advisors grow their businesses in a more efficient manner.

“One of the things we believe in strongly is the ongoing professionalization of the RIA marketplace,” said Ed Swenson, president of ASx and COO of Dynasty Financial Partners. “This gives advisors access to capabilities and services that will allow them to do just that, whether it’s capital, m&A, or marketing.”

While Envestnet’s new Recommendations Engine allows advisors to bring AI-enhanced deep data into their client relationships, ASx applies similar technology to business development and practice management, said Swenson.

“While much of wealthtech and fintech is focused on the end-client experience, what we’re doing now is really focusing on the advisor with ASx,” he said. “That means helping them find better and more efficient ways of running their practice.”

The eight services encompassed by ASx are: outsourced CFO, outsourced compliance, marketing assistance, financing, M&A valuation, data and analytics and investing via its turnkey asset management platform (TAMP). The services will be available in an unbundled, component-by-component manner.

These services will differ from the ones Dynasty already offers to advisors, said Swenson. While Dynasty takes a consultative approach when working with RIAs, ASx will focus on digitization and data.

“This is a much more productized approach to these services than what Dynasty offers,” he said. “We think coming out of the post-Covid world, three or four trends will really take hold, and one of these is the digitization of services. That’s what ASx is intended to be – it’s a different experience.”

For example, ASx’s Capital Strategies tool allows advisors to seek financing for succession planning, M&A or other purposes via a streamlined interface that imports data about their firm through the Envestnet platform. Advisors will be prompted to answer a short set of questions – which Swenson describes as five to 20 minutes worth of work. After submitting their answers, ASx underwriters will respond to funding requests with prequalification within 48 hours.

First « 1 2 3 » Next