(Biz Journals) -- A NYC wealth management firm is moving its headquarters to the heart of St. Petersburg’s business district, bringing with it new jobs in a variety of areas, a statement from the company said Tuesday.
Dynasty Financial Partners will relocate to 200 Central Ave. in the second quarter of this year, but will continue to have a presence in its midtown office in New York City and as well as its client service locations in Chicago and San Francisco.
The company will be hiring for a number of positions for its new St. Petersburg headquarters, including business development, relationship management, technology, operations, client service, investments, human resources, legal and compliance.
“We have spent a year looking for an ideal location that provided economic leverage, a high quality of life for our team, a robust infrastructure and a strong talent pool. We also wanted a location that was in the heart of a thriving and growing financial services market — and St. Petersburg was a stand-out on all fronts,” said Dynasty Financial Partners President and CEO Shirl Penney in a statement. “The real estate footprint expansion will now allow us to invest more aggressively in people, resources and tools to better serve our growing client base.”
Penney said the decision to relocate the company’s headquarters was based on several factors, including “a rising group of talented financial services professionals in Florida,” the area’s good weather and vibrant community.
“Dynasty is a young, innovative company with cloud-based technology systems doing things differently — not a legacy firm locked into any one location. The young and vibrant community in St. Petersburg will allow us to hire professionals from various backgrounds at various levels of the firm to integrate them into our client-first culture. There is a tremendous excitement with our current team, and we are already seeing excitement in the new location with people who want to join our growing team,” he said in a statement.
St. Petersburg Mayor Rick Kriseman said the city is undergoing “a remarkable economic transformation” and Dynasty’s move to the area only adds to that growth.
“I am so pleased to have one of today’s most innovative and entrepreneurial firms in the wealth management industry choose St. Pete for their next headquarters location, where they will be among one of the best financial services sectors in the nation,” Kriseman said in a statement. “… We are all excited to welcome their clients, advisors, and investors to St. Pete over the many years to come.”
Dynasty’s most recent U.S. Securities and Exchange Commission filing at the end of 2017 shows it was listed as having $2.2 billion in assets under management.
The company sometimes acquires minority interests in its investment advisor firms. The company said in a release that it has more than $30 billion investment advisor firm assets and more than $15 billion in assets on its turnkey asset management platform. The firm comprises a network of 47 investment firms.
