Dynasty Financial Partners, the St. Petersburg, Florida-based RIA platform supporting over 725 advisors and more than $125 billion in assets under administration, is formalizing a new management consulting division for independent registered investment advisors. The move is anchored by the pending acquisition of Optima Group, a Fairfield, Connecticut-based strategic advisory and brand-building firm that has focused on the financial services sector for more than four decades.
Announced on Thursday, the Dynasty Consulting Group will pair Dynasty's existing technology, investment, and capital infrastructure with Optima Group's expertise in growth strategy, brand development, and marketing execution. The transaction follows Dynasty's expanded partnership with private investment platform Allocate and represents the firm's most significant push into management consulting, a service capability it has been building over the years.
Dynasty launched its investment banking arm in May 2023, formally creating Dynasty Investment Bank to capture RIA merger and acquisition activity with services across sell-side and buy-side advisory, capital raising, valuations, and succession planning. By 2025, the bank has established itself as a top investment bank serving the independent RIA industry, completing more than a dozen transactions across M&A, recruitment, strategic advisory, and capital deals representing targets with significant assets under management. In October 2024, Dynasty extended its investment banking reach through a partnership with Diamond Consultants focused on supporting billion-dollar breakaway advisor teams weighing independence.
"For years, Dynasty has been a growth partner and value creation partner to some of the top RIAs in the country delivering high-end intellectual property, leading-edge technology, and the support of experienced operators," said Shirl Penney, founder and chief executive officer of Dynasty Financial Partners. He pointed to "Optima Group's decades of expertise in strategy, branding, and marketing" as another piece to create a partnership powerhouse that includes technology, dedicated investment banking, access to leads through Dynasty Connect, an industry-leading investment platform, and capital support.
Founded in 1979, Optima Group has built a four-decade track record helping wealth managers, family offices, fintech providers, and institutional asset managers define and communicate their identities. The firm will continue to operate from its existing headquarters in Fairfield, Connecticut following the close of the acquisition. Kenneth R. Hoffman, president of Optima Group, will lead the Dynasty Consulting Group as its head. The full Optima team joins Dynasty in the transaction, including Managing Director Ellen H. McKay and Director of Client Strategy Peter K. Ward.
"We've always believed that clarity is the foundation of sustained growth," Hoffman said in a statement. "Joining Dynasty with its extraordinary platform, capital, and operating expertise gives us the ability to bring that approach to more firms, and to back it with resources no independent advisory firm has ever had access to before."
The consulting services will be available either as a standalone offering or as an extension of Dynasty's broader RIA platform. Justin Weinkle, chief financial officer of Dynasty Financial Partners, said the new group is designed to give advisory firms access to strategic advice on the same platform where they already rely on Dynasty for technology, operations, and capital. "Our advisors bring their best thinking to their clients' business and financial needs, so we owe them the same in return – structured assessments, clear advice, and a roadmap to sharpen their positioning and accelerate their growth," he said.
The consulting services are expected to span leadership development, marketing and communications, AI-powered tools, data and cybersecurity, and tax and equity planning, according to the company. The transaction is expected to close in the coming weeks. Dynasty's move into consulting comes as RIAs increasingly seek integrated platforms that combine technology, capital, and strategic advice to compete for talent and clients. For more on how platforms are evolving, see Factory Holdings Launches RIA for Athletes and Creators, Backed by Dynasty Financial Partners and Modern Wealth, Arax, Waverly Execute Three East Coast Acquisitions Totaling $1.35B.
