People Moves

Dynasty Financial Adds Tech Firepower

Editorial Staff, July 29, 2021

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The wealthtech provider for RIAs has named a CTO and a new chief digital officer to help drive the next wave of platform services catering to the ultra-high net worth market.

Fast-growing wealthtech provider Dynasty Financial Partners has added two fintech executives to its leadership team. Frank Coates has been named chief technology officer and Taylor Howard as chief digital officer. Both will be based at the firm's headquarters in St Petersburg, Florida, and will report to chief operating office Ed Swenson.

Serial entrepreneur Coates was previously executive managing director and co-group president at Envestnet Analytics. He also co-founded Wheelhouse Analytics, acquired by Envestnet in 2016. Prior to that, he founded another financial services data business, Coates Analytics, which was acquired by PFPC in December 2007.

Howard most recently led the artificial intelligence, application engineering, digital workplace, and data analytics practices at Tampa-based software consultancy AgileThought.

“At Dynasty, we are committed to building unique technology solutions that cater to the ultra-high net worth RIA market. As a result, we are making large investments into resources around fintech,” COO Swenson said.

The firm, which is wholly owned by its founders, employees and directors, provides wealth management and technology platforms for independent financial advisory firms at the top end of the market. Its open architecture wealth platform allows advisors to gain efficiencies and operational scale as well as integrate data to create a more holistic wealth management approach.

Coates is expected to lead Dynasty's next phase of technology targeting high-growth advisory firms that want a variety of data-driven solutions, including AI use and more integrated data workflows.

Coates will also be responsible for supporting Dynasty and Envestnet’s digital solutions partnership through the firm’s Advisor Services Exchange (ASx). Howard will focus on digital architecture and proprietary products, including the advisor business solutions dashboard, benchmarking, and integrations, the group said.

Dynasty has been on a steep growth curve over the last few years, with 46 partners representing client assets of around $60 billion currently using its platform. It has hired 19 staff since January, and plans to hire 12 more at its main St Petersburg office. The firm also has offices in New York City, Chicago, Miami, and San Francisco.

“As we grow rapidly, we are excited to continue to add top intellectual capital and make strategic investments in technology that will allow our network partner firms to better care for their clients, gain new ones, make their team members' lives easier, and build better businesses,” Dynasty Financial Partners CEO, Shirl Penney said.

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