Wirehouse veterans launch firm for ‘millionaire next door’ with Dynasty, Fidelity

investmentnews.com:

A team of veteran financial advisors who previously managed $420 million in client assets at Merrill Lynch have become wirehouse breakaways and launched their own independent firm.

Taylor Hart, Mimi Dunn, and Amy Drinkard have chosen to work with Dynasty Financial Partners, with Fidelity as custodian for their new firm, Steadmont Advisors, based in Birmingham, Alabama. They are joined by senior associate client advisor Tyler Decker.

The name of their new firm combines elements of “steadfastness” with “mountain” to reflect the journey of the advisors and their clients, with the focus on the affluent family next door.

“The timing is perfect for our team,” commented Taylor Hart, partner and president. “Now more than ever, being able to be flexible and nimble in services provided and fee structures is imperative. We believe that with our newly added technological capabilities, we will be able to manage our client relationships, assets, and financial plans better and more efficiently.”

Dunn, who is a partner and client advisor, said joining Dynasty means the ability to grow with support.

“Dynasty provided us with something unique and that was the ability to start our own RIA and own our ADV and still have an operational partner during the pre-transition, transition, and on-going phases,” she said.

Along with Dynasty and Fidelity, the firm will work with eMoney for financial planning, and Black Diamond for performance reporting.

Drinkard, partner and client advisor, added that the firm will simplify operations and cut through red tape. 

“This means better communication and service for our clients,” she said. “Plus, we’re expanding our webcast and newsletter offerings to keep our clients informed and more connected.”