ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Dynasty Financial Partners today announced its partnership with DayMark Wealth Partners, the most recent independent advisory firm to leverage Dynasty Financial Partners’ industry-leading platform of technology-enabled wealth management solutions and business services for financial advisory firms.
The founding seven partners previously worked together at Wells Fargo’s Cincinnati office. The founders include two executives, Mike Quin and Steven L. Satter who is General Counsel for DayMark Wealth Partners and five financial advisors: Robert E. Prangley, II, CIMA®, P.J. Boland, CPWA®, Jason M. Beischel, CFP®, Mike Larison, AAMS® and Daryl J. Demo. The total number of staff is 14 professionals. The firm previously managed $1.4 billion in client assets.
“We launched DayMark Wealth Partners because we wanted full ownership of the business, the client experience and our ADV. We want to act in the best interests of our clients, pure independent environment, and support elite, top advisors, and we can only do that if we have the freedom and flexibility to only focus on our clients’ goals,” said Mike Quin, Founder of DayMark. “We fully expect to acquire like-minded teams who understand that their primary concern is their clients and we want to help them execute that client experience at a higher level.”
Shirl Penney, CEO of Dynasty Financial Partners, said, "We are honored to welcome the entire DayMark team to the Dynasty community. We expect DayMark to be a preferred destination for multi-generational families, entrepreneurs, corporate executives, and business owners. They will also be a premium choice for advisors seeking partnership, professionalism, and integrity in their new firm. We anticipate that DayMark will grow fast both organically and inorganically, and we believe they are the type of firm that represents the wealth management boutique of the future."
According to John Sullivan, Dynasty’s Director of Business Development, “The launch of DayMark signals another significant stage in the evolution of the wealth management industry. Increasingly, we are seeing executives in management positions and larger, more sophisticated teams choosing independence as the path that best benefits advisors and their clients. We anticipate that DayMark Wealth Partners will build one of the industry's truly significant, professional wealth management firms and we look forward to partnering with them."
About the name DayMark: Lighthouses are often painted in a unique pattern so they can be easily recognized during daylight, a design known as a daymark. As advisors, DayMark Wealth Partners looks to guide high-net-worth clients and their families with the clear direction of a well-thought-out plan, giving visibility for generations to come.
Based in Cincinnati, DayMark’s clients include business owners, corporate executives, and many high-net-worth families with multiple generations - in some cases four and five generations.
Specialties of the firm include:
- Generational Transfer Planning
- Charitable giving strategies
- Concentration Risk Reduction
- Tax Optimization
For Business Owners and Executives –
- Succession Planning and Pre-Sale Valuation and Liquidity Planning for business owners.
- Executive benefits/Tax Mitigation Services/Retirement and Corporate Stock Distribution Planning as well as cash flow optimization during and after employment.
DayMark Wealth Partners has selected both Charles Schwab and Purshe Kaplan Sterling for custody and clearing services. For more information, please visit www.DayMarkWealthPartners.com.
DayMark Wealth Partners – Bios
Mike Quin
Founder
Mike Quin is one of the seven founders of DayMark Wealth Partners. Mr. Quin is responsible for managing the firm and growing the business through acquiring elite advisory practices throughout the state of Ohio and the country.
Mr. Quin has 24 years’ experience in the Private Wealth Management Industry. He has spent most of his career in Senior Leadership running the Private Client Group Businesses in Ohio and Connecticut at UBS, Morgan Stanley, and most recently, since 2013 at Wells Fargo Advisors. During his time at Wells Fargo Advisors, he served as The Ohio Market Manager and was recognized as a Premier Manager every year he was with the firm. He also was a member of the Executive Committee for the firms Women’s Initiative.
A graduate of Ohio University, he also attended The Wharton School where he received the SIFMA Certificate from Securities Industry Institute. He sits on the Board of the Karen Carns Foundation.
Robert E. Prangley, II, CIMA®
Founder
Bob Prangley began his career in 1991 and draws on his decades of experience coaching and guiding high net-worth families and individuals, foundations, and private businesses.
Before joining DayMark Wealth Partners, he was a Financial Advisor at Merrill Lynch for more than 16 years. He later joined Wells Fargo Advisors. In his previous experience, he founded The Prangley Boland Investment Consulting Group of Wells Fargo Advisors.
P.J. Boland, CPWA®
Founder
Mr. Boland’s main goal is to help empower the DayMark team’s clients and their families in achieving their goals throughout the changes of life.
He has previously worked for Merrill Lynch and Wells Fargo. He worked for Merrill Lynch for 11 years, and in 2003 formed a partnership with Bob Prangley. They moved their partnership to Wells Fargo Advisors in 2007. He holds a series 7, 63, and 65 registrations. In 2020, he obtained the Certified Private Wealth Advisor designation from the Investment Wealth Institute.
Jason M. Beischel, CFP®
Founder
Jason Beischel, CFP®, one of the seven founders of DayMark Wealth Partners, has been in the financial industry since 1999 and has been a registered financial advisor since 2002. He focuses on discretionary portfolio management.
Mr. Beischel previously worked as a Financial Advisor with Wells Fargo Advisors beginning in 2006. He earned his CFP® certification from the Certified Financial Planner Board of Standards. He earned a bachelor’s degree in Finance and International Business from the University of Cincinnati.
Mike Larison, AAMS®
Founder
For more than 30 years, Mr. Larison has had the privilege of providing highly personalized services to help individuals and families meet their financial needs.
Before joining DayMark Wealth Partners, he began his career at Merrill Lynch in Chicago, returning to Cincinnati in 1991 to continue his career with A.G. Edwards & Sons, Inc., a predecessor firm of Wells Fargo Advisors.
Daryl J. Demo
Founder
Daryl Demo, one of the seven founders of DayMark Wealth Partners, has been in the financial industry since 1987.
Working in the Financial Services field and serving clients for more than 30 years, he has been through nearly every market cycle imaginable. Prior to DayMark, Mr. Demo was a Financial Advisor for Wells Fargo in Cincinnati.
Steven L. Satter
Founder
As one of the seven founders of DayMark Wealth Partners, Steve Satter is responsible for all legal matters involving the firm and assisting the other members in managing and growing the firm. In his most recent experience, he served as in-house counsel for Wells Fargo for the past 14 years, where he managed litigation matters for the firm.
During his 25-year career as an attorney, he has worked in private practice, spent seven years as an Assistant State’s Attorney for the Cook County State’s attorney’s office in Chicago. He attended undergraduate school at Loyola University–Chicago and law school at the University of Pittsburgh. Prior to attending college, Steve worked for the Long Island Railroad, where he started out as trackman and then enjoyed most of his railroad career as a locomotive engineer.
About Dynasty Financial Partners
Dynasty Financial Partners is known for assisting advisors of integrity to better service their clients, run their businesses more profitably, grow faster, and enhance the enterprise value of their firms. Dynasty does this by providing wealth management and technology platforms for select independent financial advisory firms. Dynasty creates access to valuable resources and industry-leading capabilities through an open architecture platform, enabling advisors to address their clients’ needs and to protect and grow their wealth. Dynasty supports independent advisors and their teams in being independent, but not alone, by creating exclusive community events and experiences. Dynasty also offers access to flexible capital solutions to help advisors expand, scale, and grow their business. Dynasty’s core principle is “objectivity without compromise,” and the firm is committed to developing solutions that allow investment advisors to act as true fiduciaries to their clients.
For more information, please visit www.dynastyfinancialpartners.com.
Also visit Dynasty on social media:
LinkedIn: https://www.linkedin.com/company/dynasty-financial-partners
Twitter: @DynastyFP
YouTube: http://bit.ly/1MKXhC8
Disclosures:
CERTIFIED FINANCIAL PLANNER™. The CERTIFIED FINANCIAL PLANNER™, CFP® and federally registered CFP (collectively, the “CFP® marks”) are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”).
The Certified Private Wealth Advisor (CPWA®) designation signifies that an individual has met initial and on-going experience, ethical, education, and examination requirements for the professional designation, which is centered on management topics and strategies for high-net-worth clients.
The Accredited Asset Management Specialist™ is a regionally accredited institution of higher education accredited by the Higher Learning Commission, a member of the North Central Association.
Certified Investment Management Analyst (CIMA®):
The CIMA® certification signifies that an individual has met initial and on-going experience, ethical, education, and examination requirements for investment management consulting. The designation is administered through The Investments & Wealth Institute (“IWI”) formerly known as the Investment Management Consultants Association.
