Dynasty Lands Pittsburgh’s D.B. Root & Co.; Adds $650M AUM, NexGen Advisors
From Advisor Hub
Dynasty Financial Partners today announced its partnership with D. B. Root & Co., the most recent independent advisory firm to leverage Dynasty’s industry-leading platform of integrated wealth management services and technology.
Founder and CEO David B. Root launched D. B. Root & Co. as an independent advisory firm after leaving Commonwealth Financial Network. The firm was established in 1994 and joined the Commonwealth platform in 1997. Charles Stout, Senior Advisor, David Hoffmann, Vice President, Steve Kohler, Senior Financial Advisor, Michael Aroesty, Financial Advisor, and Lynn Hoffay, CPA, also join from Commonwealth along with nine members of the support staff.
With client assets of more than $650 million, D. B. Root becomes one of the largest independent advisory firms in Pittsburgh. The firm works with corporate executives, professionals, business owners and entrepreneurs in Pittsburgh’s burgeoning technology sector and growing energy segment.
D. B. Root leverages an extensive professional network in Pittsburgh for tax, estate planning and insurance needs.
The firm also focuses on education: specifically, training, educating and mentoring the next generation of the firm’s employees. Since half the firm is under 40 years old, D. B. Root leverages the tech-savvy professionals to fully engage in technology and social media. As a result of the in-house training and mentoring program, D. B. Root ensures the continuity of the business and smooth transitions over time, as well as a cadre of professionals who can tap the next generation to develop and grow new business.
“Our partnership with Dynasty to become an independent RIA enables us to offer better technology, better statements, better investment opportunities, better execution and expanded access to the world’s capital markets and a widening array of products and services on behalf of our clients,” said David Root, CEO of D. B. Root.
“David and the D. B. Root team are setting the stage for the future. David is a leader in training and mentoring the next generation of advisors and working with entrepreneurs,” said Shirl Penney, President and CEO of Dynasty Financial Partners. “We look forward to partnering with them as they build their business and we are proud to add them to our Network of truly independent advisors.”
D. B. Root’s investment process is repeatable, objective and process-driven in order to maximize returns while managing the critical areas of fees, taxes and risk for clients. The firm has three investment models plus one called ‘four seasons’ to address different risk/reward profiles.
D. B. Root is the most recent independent investment advisory firm to leverage Dynasty Financial Partners’ industry-leading platform of integrated wealth management services and technology. The company will access Dynasty’s groundbreaking investment platform, which integrates industry-leading proprietary research from Wilshire Associates and Callan Associates and Envestnet’s state-of-the-art portfolio tools and reporting technology. Schwab will provide custody services.
Life Plan 20/20 Financial Planning Services
To provide clients with innovative financial planning services not found elsewhere, D. B. Root & Co. designed Life Plan 20/20® to offer a wide-range of financial strategies for all areas of a client’s personal and business lives. The advising firm has taken portfolio management, estate and retirement planning, tax and insurance advice and other important financial services and combined them into one comprehensive program designed to help keep their clients’ life goals on track. Life Plan 20/20® brings clarity to their financial situation, and begins with an in-depth analysis of the stage in life, the goals and the potential for success of D. B. Root’s clients.
This process is focused on performance while managing risk, securing retirement while maintaining lifestyle goals as well as sustaining financial independence. The result is a tailor-made strategy to fit a life plan managed by an experienced and knowledgeable advisor backed by a professional network of some of the most respected experts in the industry.