Dynasty Financial Partners and Abacus reach equity swap deal

Dynasty Financial Partners, a wealth management solutions provider, and alternative asset manager Abacus Global Management have sealed an equity swap deal.

The deal sees Dynasty Financial Partners making a minority investment in Abacus Global Management and vice versa.

Abacus Global Management has joined the network of owners and operators that leverage Dynasty's technology and services.

These services encompass asset management programmes, digital lead generation, and investment banking.

Abacus Global Management rebranded from Abacus Life earlier this year.

In 2023, it launched a new wealth division, ABL Wealth, supported by Dynasty Financial Partners.

Dynasty Financial Partners, which supports a network of 57 partner firms and manages over $105bn in platform assets, provides an option for firms to divest a minority share of their equity.

This option is structured to maintain the firms' autonomy while granting Dynasty certain governance rights and a client repurchase provision.

Dynasty Financial Partners CEO and founder Shirl Penney said: “Our investment in Abacus illustrates our confidence in their business model, the strength of their balance sheet, and the commitment of Jay and the team to continue building out their wealth business. We look forward to supporting their strategic growth in the years to come.”

Abacus Global Management CEO and chairman Jay Jackson stated: “We are proud to align our business with a proven platform like Dynasty. With the ongoing support, expertise, and partnership of Dynasty Financial Partners, our business has the firepower it needs to reach the next level.”

In March, Dynasty Financial Partners formalised a custody agreement with Goldman Sachs.

This deal makes Goldman Sachs Custody Solutions a preferred custodian for the independent RIA network associated with Dynasty.

The integration of Goldman Sachs Custody Solutions with Dynasty’s Turnkey Asset Management Programme is anticipated to enhance the asset management services available to RIAs.

"Dynasty Financial Partners and Abacus reach equity swap deal" was originally created and published by Private Banker International, a GlobalData owned brand.

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