Dynasty Financial Partners, a champion of the independent wealth management movement, closed a $125 million corporate credit facility supported by a syndicate of financial services firms including UMB Bank, Flagstar Bank, J.P. Morgan Chase Bank and Goldman Sachs Bank USA. It marks Dynasty’s third commitment from UMB and its second from J.P. Morgan and Goldman Sachs.
Dynasty will utilize the new credit facility to ramp up its development of proprietary services, in addition to other strategic investments through its capital strategies offering fueling the growth of its network.
The new undrawn facility, a combination of a revolving and a delayed draw term loan, enhances Dynasty’s fortress balance sheet standing of significant unencumbered cash and no outstanding debt.
“This facility signifies the market’s continued belief in our disciplined approach to innovation and our commitment to equipping independent firms with the ability to achieve outsized growth and build client trust,” Justin Weinkle, chief financial officer of Dynasty, said. “The dry powder that these top-tier institutions have provided will enable us to continue developing our competitive strengths and comprehensive offering for the better of the wealth management industry.”
