Wealth technology provider Dynasty Financial Partners has entered into a mutual investment deal with alternative asset manager Abacus, with each firm taking a minority stake in the other.
The transaction aims to deepen their strategic relationship, though financial terms were not disclosed. Abacus already operates within Dynasty’s network of 57 partner firms, which collectively oversee more than USD 105 billion in platform assets.
Through the network, Abacus has access to Dynasty’s integrated technology platform, turnkey asset management programme, digital lead generation, capital solutions, and investment banking services. Dynasty’s platform blends proprietary and third-party tools to provide advisory firms with business services and investment management capabilities.
Shirl Penney, founder and chief executive of Dynasty, said the deal reflected confidence in Abacus’s business model and leadership team. “We look forward to supporting their strategic growth in the years to come,” he said.
Abacus chairman and chief executive Jay Jackson said the partnership would give the firm “the firepower it needs to reach the next level.”
