St. Petersburg-based Dynasty Financial Partners has helped launch a new financial advisory firm in Blue Bell, Pa., known as Amplius Wealth Advisors.
The company is led by a group of seasoned financial management professionals — Samuel Liebman, Matthew Liebman, Aaron Marks and Patrick Swift — who most recently worked for The Liebman Marks Group, a boutique wealth management group associated with Merrill Lynch Wealth Management. In that capacity, a news release states, they advised on more than $1.25 billion in client assets.
“We are delighted to welcome Sam, Matt, Aaron and the whole team of Amplius Wealth Advisors,” Dynasty Financial Partners CEO Shirl Penney stated in the release. “They spent a year doing diligence and came to realize what an increasing number of advisors are realizing: that there are significant opportunities for both clients and advisors in the independent space. We are delighted to have this growing firm join the Dynasty family of independent advisors.”
The addition of Amplius — the name comes from a Latin word that means “a larger amount” — to its platform is another big win for Dynasty, which is one of the most high-profile companies to relocate to St. Pete in recent years, leaving Manhattan for the Sunshine City in mid-2019.
Speaking to the Catalyst, Penney hinted that Dynasty’s network is set to grow even more in 2021.
“We have quite a number of new firms that joined or signed with us already,” he said, “and we’ll be announcing them over the coming weeks and months.”
Dynasty’s platform offers capabilities in capital markets, investment banking, investment research and consulting, advanced technology, proprietary analytical tools and marketing services. It’s designed to enable registered investment advisors to operate independently of major firms like UBS, Merrill Lynch, Morgan Stanley, etc., while mitigating the risk and minimizing the up-front investment that are usually associated with launching a new business.
“We invented the category, this platform service model for independent advisors,” Penney said. “We were the first integrated platform service model for RIAs. And we’re now by far the biggest industry player in that space.”
In Amplius, Dynasty appears to have picked a winner. According to the release, the firm boasts a diverse roster of wealth advisors who range in age from their 20s to 90s. They have expertise in comprehensive wealth planning, tax accounting, public finance, portfolio management, asset allocation, research, real estate and insurance. It’s also a family business: Chairman Samuel Liebman is the father of CEO Matthew Liebman.
“We were content at our former firm and our growth over the past several years has been tremendous,” Matthew Liebman stated in the release. “But two years ago, we started the due diligence process out of our commitment to always try to do more and do better for our clients and their families. Once we completed an in-depth look at the landscape, we realized there is so much more we can do for clients now as a true fiduciary. In terms of firm growth, we anticipate receiving even more introductions to a broad array of quality clients.”
The elder Liebman has quite the bio. According to the release, he’s a Coast Guard veteran and worked as an IRS field agent from 1966 to 1969. Prior to joining Merrill Lynch in 2007, he worked as a wealth advisor for Paine Webber and Prudential-Bache Securities. In 2011, Barron’s magazine listed him at No. 10 in its top advisor rankings for the state of Pennsylvania.
“In Amplius, Sam, Matt and Aaron have brought together a strong, multi-generational team with a steadfast focus on helping their clients accomplish their life goals,” stated David Canter, head of the RIA and family office segments for Fidelity Institutional, which Amplius has chosen as its custodian, in the release. “Transitioning to independence will allow them to bring to life their vision for their firm and how they serve clients, and we’re pleased to be part of that journey with Dynasty, which has been a champion for independence for the past decade.”