Abacus Global Management (NASDAQ:ABL) said on Tuesday it has taken a minority stake in Dynasty Financial Partners, a provider of technology-enabled wealth management solutions for independent financial advisers.
The companies have an existing relationship, with Abacus already part of Dynasty’s network of independent firms using its technology, services, turnkey asset management program, digital lead generation tools, capital solutions and investment bank.
Dynasty currently has 57 partner firms and more than $105 billion in platform assets.
“Over the years, we have developed a deep relationship with the team at Dynasty, so we are thrilled to be able to offer them support, as well, through this investment,” Abacus CEO Jay Jackson said in a statement.
“Their backing and expertise empower us to continue building on our suite of services and expanding our national footprint.”
Shirl Penney, Dynasty’s founder and CEO, said the deal underscores the rapid growth and opportunity in the independent wealth management sector. “This alignment and mutual investment is yet another illustration of how the independent wealth management space has truly exploded with growth and opportunity.”
Abacus Global specializes in alternative asset management, wealth solutions, technology, and institutional services, with a focus on longevity-based assets and data-driven financial planning.