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ON THE MOVE-Scott Welch to join Dynasty as chief investment officer
2015年5月14日 / 下午1点17分 / 2 年前

ON THE MOVE-Scott Welch to join Dynasty as chief investment officer

NEW YORK, May 14 (Reuters) - Dynasty Financial Partners has hired Scott Welch, a specialist in devising “alternative” investment strategies for financial planners and investment advisers, as its chief investment officer.

Welch, 54, told Reuters he will join Dynasty June 8 as a capital-committing partner. The firm sells client management, trading, legal, investing and other business services and products to independent financial advisers who generally work with wealthy investors.

Founded four years ago by former Smith Barney executives Todd Thomson and Shirl Penney, Dynasty has 28 advisory teams managing about $23 billion of client assets.

Welch made his name as cofounder and chief investment officer of Fortigent LLC, a so-called turnkey asset management provider (TAMP) founded in 1996 that manages portfolios for investment advisers.

LPL Financial Holdings, the biggest independent brokerage firm in the U.S., bought Fortigent in 2012 as a standalone business for advisers who work with wealthy clients but is now reorganizing the unit.

“I‘m an entrepreneur at heart who thoroughly enjoys building wealth management firms,” said Welch, who left Fortigent last year and will divide his time between his home in Maryland and Dynasty’s New York City headquarters.

“The opportunity to become an owner with other entrepreneurial owners like Todd and Shirl is very exciting.”

Thomson, a former chief financial officer of Citigroup, said he first met Welch when Dynasty, in its early days, considered buying Fortigent.

Welch will help recruit brokers who are considering leaving their firms to become independent advisers, promote Dynasty’s own TAMP service to teams that want to outsource asset allocation and help others choose outside portfolio managers.

Dynasty already wholesales alternative investment services from Wilshire Associates, long-only investment models from Callan Associates and private market investments through Hamilton Lane.

Welch, who worked at Swiss Bank Corp and The Globecon Group prior to joining Fortigent, will continue to sit on the editorial advisory boards of “The Journal of Wealth Management” and “Investments & Wealth Monitor.”

At Dynasty, he will report to Thomson, the firm’s chairman who has been serving as its interim chief investment officer. (Editing by Bernadette Baum)

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