Financial services provider Abacus Global Management and technology-enabled wealth management solutions provider Dynasty Financial Partners are making reciprocal minority investments in each other.
“We are proud to align our business with a proven platform like Dynasty,” said Jay Jackson, chairman and chief executive officer of Abacus, in a press release. “With the ongoing support, expertise, and partnership of Dynasty Financial Partners, our business has the firepower it needs to reach the next level.”
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Abacus Global Management, which specializes in alternative asset management, data-driven wealth solutions, technology innovations, and institutional service, is already a member of Dynasty’s network of owners and operators of independent firms that use its services.
Dynasty has more than $105B in platform assets that offer integrated technology services, including a turnkey asset management program (TAMP), digital lead generation services, capital solutions, and investment bank.
“Our investment in Abacus illustrates our confidence in their business model, the strength of their balance sheet, and the commitment of Jay and the team to continue building out their wealth business,” Shirl Penney, Dynasty’s founder and CEO.
Dynasty offers firms minority rights deals that allow them to retain business control, including limited governance rights and a unique client repurchase right.
