We knew that Dynasty Financial Partners hit the ground running, but now it appears that the firm wants to reach $50 billion in AUM by 2016.
Dynasty has only been around for a few months. But recent hires tipped its ambitious plans, and management now confirms: They want to sign around 150 advisors and capture at least $300 million per new recruit over the next five years.
They seem well funded.
We will definitely have to watch how they do against other upstarts like HighTower, which has a completely different ownership structure -- affiliates own the company, while in Dynasty every advisor on the platform is still an independent entity -- and aims a bit lower down the AUM food chain.