Dynasty Financial Partners Acquires 5‑10% Minority Stake in Evertern Wealth RIA

Why It Matters

The departure underscores a broader trend of wire‑house talent migrating to independent models, potentially accelerating UBS’s advisor turnover and reshaping the competitive landscape for wealth‑management platforms.

Key Takeaways

• UBS duo launches Evertern Wealth with $2.4B AUM.
• Dynasty Financial Partners provides back‑office and takes 5‑10% equity.
• Goldman Sachs Custody will hold client assets for the new RIA.
• Advisors retain dual registration with Pershing Kaplan Sterling.
• Move highlights attrition risk after UBS compensation reforms.

Pulse Analysis

The wealth‑management industry is witnessing a wave of senior advisors exiting traditional wirehouses to form boutique registered investment advisors (RIAs). UBS, once a talent magnet, has seen a spike in departures after it trimmed compensation for advisors who did not meet growth thresholds. This strategic shift is prompting seasoned professionals to seek greater autonomy, fee transparency, and the ability to craft tailored client experiences outside the constraints of a large institution.

Evertern Wealth, the new RIA founded by Jason E. Stephens and Michael J. Lundon, illustrates how independent firms are leveraging established platforms to accelerate launch timelines. By contracting with Dynasty Financial Partners for back‑office operations and selling a modest equity stake, the duo gains access to sophisticated portfolio management tools, compliance infrastructure, and economies of scale that would be costly to build in‑house. The partnership also secures Goldman Sachs Custody Solutions for asset safekeeping, while maintaining dual broker‑dealer registration through Pershing Kaplan Sterling, ensuring seamless execution for clients who still require brokerage services.

For the broader market, this move signals heightened competition for high‑net‑worth clients and a potential talent drain from legacy firms. UBS must balance cost‑containment with retention incentives to stem further outflows, while independent platforms like Dynasty stand to benefit from increased fee‑based revenue and expanded market share. Clients may enjoy more coordinated advice across investments, liquidity events, and generational planning, as the new RIA promises "institutional‑level capabilities" without the fragmentation often associated with large wirehouses. The trend suggests a continued realignment of advisory services toward flexible, technology‑enabled models that prioritize advisor independence and client‑centric solutions.

Deal Summary

Former UBS Wealth Management partners Jason E. Stephens and Michael J. Lundon launched a new registered investment advisor, Evertern Wealth, in Naples, Florida. The duo sold a 5‑10% equity stake in the firm to Dynasty Financial Partners, which will also provide back‑office services and an asset‑management platform. Evertern will hold client assets with Goldman Sachs Custody Solutions and some advisors will be dually registered as brokers.