For a period, the firm handled certain activities in-house before deciding to re-connect with Dynasty.
Dynasty Financial Partners yesterday said that Ascent Wealth Partners – with $1 billion of assets – has rejoined the Dynasty network, having originally joined it 13 years ago.
The firm, which is led by founding partners Brad Kowalczyk, Mark Moshier and Scott McCartney, has offices in New Hartford, Saratoga, and Elmira in New York.
For a period, the firm handled certain activities in-house before deciding to re-connect with Dynasty, a spokesperson for the latter firm told Family Wealth Report when asked.
Ascent has decided to work with Florida-based Dynasty to use its compliance, outsourced chief finance officer, marketing, public relations and community pillars.
"Prior to joining Dynasty over 10 years ago, we had been running an independent RIA that we broke away from," Kowalczyk said in an emailed comment to FWR. "At that RIA, we had become accustomed to running every aspect of an independent firm in-house from portfolio management to operations, and everything in between."
"After the invaluable services provided by Dynasty on the transition from our old firm to the establishment of our new firm, we elected to continue assuming responsibility for all aspects of running our firm. This was effectively the basis for us fondly leaving the Dynasty network at the time. Since then, the continued steady growth of our firm, along with the increasing sophistication and complexity of our client base, has caused us to reunite with Dynasty to take advantage of a variety of the support services they offer. We maintained purposeful contact and awareness throughout the year fully contemplating that this moment would come.”
Dynasty CEO, Shirl Penney, said: “Our platform and products have grown and evolved tremendously since Ascent originally joined the Network ten years ago. They will now have access to the latest – cutting-edge technology, intellectual capital, integrations and capabilities to support their business. Like many RIAs that have joined our network, we appreciate that the partners at Ascent recognize the value of outsourcing many of the core middle office service offerings so they can continue to serve their increasingly sophisticated client base.”