The newest member of the Dynasty Financial Partners network, Cyndeo Wealth Partners in St. Petersburg, is a startup. But with a team that previously managed $1.2 billion in client assets, Cyndeo already ranks near the top of the list of largest independent financial advisory firms in the Tampa-St. Petersburg area.
Dynasty announced Cyndeo’s launch on Tuesday. Cyndeo provides financial planning and investment management services. Matt Kilgroe, a 29-year veteran of UBS Financial and Merrill Lynch, is president and CEO.
Kilgroe said he and his team had a lot of interest from clients for more flexibility surrounding investments and service than they could provide in a wirehouse setting.
“In addition, we followed the evolution of the independent space, particularly on the technology side, and wanted to tap into the advanced capabilities. We are excited to utilize the technological tools that allow client data aggregating as well as financial modeling. And we wanted to create a strategy around succession planning,” Kilgroe said in a news release.
Cyndeo has clients in 40 states, including executives, business owners, land owners and professional athletes as well as those facing financial challenges due to divorce or death of a loved one. In addition, the Cyndeo team proactively networks among professional and personal circles to connect people with each other and to exclusive opportunities, a news release said.
The new firm has an office in downtown St. Petersburg, on the 23rd floor of 200 Central. That’s the same building and just a few floors away from Dynasty’s headquarters. Dynasty, which provides wealth management and technology platforms for independent financial advisor firms, moved its headquarters from New York to St. Petersburg last year. Since then, Dynasty has quickly immersed itself in local activities and events. Shirl Penney, Dynasty CEO, said he expects Cyndeo to follow suit.
“Matt and the Cyndeo team are also deeply committed to the St. Pete community and are well known for their strong support for local causes,” Penney said. “We are so proud and honored to support Cyndeo and their clients on their journey to independence right here in our hometown of St. Pete!”
As a member of the Dynasty network, Cyndeo has access to a full array of capital markets and investment banking capabilities, as well as a vast range of investment research and consulting, advanced technology and proprietary analytical tools, and an online research center.
Cyndeo selected Fidelity Institutional as its custodian.
What’s in a name? The name Cyndeo Wealth Partners comes from the Greek word ‘syndeo’ meaning ‘connect.’
Many of the other Cyndeo professionals worked with Kilgroe at UBS, including Peter Frantzis, director of business development; Eric Branson, director of investments; Tommy Kidwell, vice president of wealth management; Ryan Quinty, vice president-financial planning; Adam Hess, vice president; Nate Johnson, vice president; and Dave Lackore, director of operations.
Other members of the Cyndeo team are senior client relationship managers Angela Sundstrom, Julie Battaglia and Paula LaBrake, and client relationship managers Porsche Sanders and Stephen Gallardo.