A team of 14 financial advisors and support staff in New York City has created its own registered investment advisor, Matauro, in partnership with Dynasty Financial Partners. The team, which oversees $700 million in client assets, was previously with Equitable Advisors.
Partners Matthew Klein, CEO, Barrett Tabeek, CFO and Steven Van Hooker, COO, lead Matauro. Klein began his career with AXA Advisors (now Equitable Advisors) in 2005, while Tabeek and Van Hooker started at AXA in 2010.
They are joined by Alexandra Fraser, Managing Director and Principal Advisor; Eliran Abekassis, portfolio manager; financial planners AJ Pisarri and Benjamin Manley; wealth managers Evan Gray, Michelle Notardonato and David Kim; Tu Duangsuwan, director of logistics and administration; Melissa Tabeek, director of client services; and Denise Pulido, director of client implementation; and Mark Klein, chief of staff.
According to a Form ADV, the firm will use Dinasty for operational and back-office support, its asset management platform and its investment programs.
The RIA will use Fidelity for custody and Purshe Kaplan Sterling Investments for the brokerage business. Fidelity also provided transition assistance, according to the firm's Form ADV. The firm will use Black Diamond for performance reporting, eMoney's planning portal and BeCo for information security and technology.
Matauro also recently joined the Broker Recruitment Protocol. This agreement allows departing advisors to obtain certain client information and solicit it, regardless of whether the advisors had notices expressly prohibiting such conduct.
The firm's website says it will “blend data-driven planning with a deep understanding of the human side of financial planning.” The team serves entrepreneurs, business owners and corporate executives.
They will charge a 1.15% advisory fee for accounts with $250,000 or less. For accounts larger than that, they have a mixed tiered rate plan.
Dynasty too announced some changes to its senior management team last week, naming Tim Oden, a former Schwab Advisory Services executive, as chief growth officer, a new position. Andrew Marsh, Dynasty's first vice president, was named head of core services. Also, Marc Hineman joined the firm as chief operating officer. Most recently, he served as COO of Pico, a technology provider for financial services companies.
Dynasty currently serves 56 independent firms and has over 400 advisors in its network. These RIAs represent average assets under management of $1.8 billion and average assets per advisor of approximately $250 million.