Platform powerhouse Dynasty Financial Partners has completed its biggest deal of the year so far.

Next Capital Management, a New York City-based independent wealth management firm with $763 million in assets under management, becomes Dynasty’s 43rd partner firm, and the seventh deal the company has done this year. Dynasty is also based in New York.

Improving infrastructure was the main reason Next Capital joined Dynasty's platform, says Andy Hart, founder and CEO of the firm.

Andy Hart, founder and CEO of Next Capital, says Dynasty will help his firm improve infrastructure.
Andy Hart, founder and CEO of Next Capital, says Dynasty will help his firm improve infrastructure.

“By joining the Dynasty Network, we will now have access to better data and analytics about our business that will drive more thoughtful decision making in the future,” Hart says.

TARGETING $20M CLIENTS

Next Capital targets East Coast high-net-worth clients with an average over $20 million in investable assets, according to the firm. It has 970 accounts managed by 13 professionals, the firm’s ADV form shows.

“Next Capital Management is significantly reinvesting in their business following a period of robust growth," Dynasty CEO Shirl Penney said in a statement. "We are looking forward to working with them as they increasingly differentiate their client offerings through customized solutions and niche investment allocations.”

In February, Daynasty added two firms, Texas-based Icon Wealth Partners with $750 million in AUM and Las Vegas-Based Buckley Wealth Management with $600 million in AUM.

Jane Yi Zhang

Jane Yi Zhang

Jane Yi Zhang is an editorial intern with SourceMedia's Investment Adviser Group.