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A Conversation with Shirl Penney: What’s Driving the Momentum Towards Independence – And Will it Continue?


An insider’s guide to what it takes to get from here to there in the independent space.

Shirl Penney, President and CEO of Dynasty Financial Partners, joins Mindy to share insights from his own unique entrepreneurial mindset, and vast industry knowledge and experience as the founder of Dynasty.

Together they discuss:

  • The role service providers play in supporting both breakaway advisors and established RIAs.
  • The options for advisors who want the freedom of independence while also accessing capital.
  • The benefits of separating financial advice from custody and product.
  • Common fears and misconceptions advisors have about independence.
  • Why UHNW advisors – and their clients – are increasingly turning down the brand names of traditional brokerages for the RIA space.
  • His thoughts on the future of independence and its role in the growth of the wealth management industry.
  • And much more.

Related: A 10-Point Exercise for Advisors to Find Your Best Business Life

Shirl’s knowledge of the independent space – specifically what it takes to get from here to there – is exceptional, and his backstory unique and inspiring. He paints a compelling picture about what’s driving the momentum toward independence. As he describes it, a level playing field with respect to the ability to build a customized client-centric firm, the expanded role of the custodians, the acceleration of product access, and the unprecedented value creation opportunity has generated the perfect storm for breakaway advisors and independent business owners.

And it’s a storm that’s not likely to end anytime soon.

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