Dynasty Financial Partners Welcomes $2.6B Anchyra Partners Team

Dynasty Financial Partners is bringing on a newly formed Atlanta-based team that includes several Goldman Sachs alumni and manages about $2.6 billion in assets.

Anchyra Partners will work with ultra-high-net-worth clients and multi-family offices. The team includes Zack Cloud and Brian Gately, who were previously vice presidents at Goldman Sachs, and Robert Durham, who is joining the team from roles as managing director and regional director at Stephens Inc.

Durham will serve as the team’s CEO and intends to grow the firm with dual recruiting and acquisition strategies. Ultimately, the team opted for the independent wealth space, with Durham saying it was best for their client base.

“The technology and investment opportunities—including more complex investments and private market plays—available to independents today delivers a client experience that is almost second to none,” he said.

Durham and the team intend to grow Anchyra by acquiring independent firms and bringing on “like-minded” advisors looking for teams with strong business books seeking equity. Dynasty will offer transition support, core infrastructure and guidance as the firm scales.

According to SEC records, Cloud and Gately had multi-year tenures at Morgan Stanley before joining Goldman Sachs in 2015. Durham’s industry experience extends back to 1980 when he joined Merrill Lynch, with stints at Lehman Brothers, Credit Suisse and Wells Fargo before joining Stephens Inc. in 2016.

Related:Focus Financial CEO Makes Case For RIA Age of ‘Interdependence’

Last month, Americana Partners, a Houston-based Dynasty-backed firm, hired four former advisors from Morgan Stanley, which managed more than $1.5 billion in assets under management. Earlier this year, Constellation Wealth Capital staked Procyon Partners, an $8 billion Connecticut RIA that is also part of the Dynasty network. Procyon CEO and co-founder Phil Fiore called the deal a “transformative moment” for the firm.

In March, Dynasty added Goldman Sachs Advisor Solutions as a preferred custodian for its RIA network, joining Schwab, Fidelity and BNY Pershing as custodians Dynasty would recommend to clients. Its RIA network now includes nearly 60 partner firms, over 500 advisors and over $105 billion in assets.