A Wells Fargo team that oversaw more than $250 million in client assets has gone independent with Dynasty Financial Partners, a spokeswoman said.
Managing Partners Charles Eberly, Jr. and Lawrence DeFluri founded their new firm, SevenBridge Financial Group, with Dynasty's help in Harrisburg, Pa.
The team works with high-net-worth clients and business owners, as well as specializes in helping clients who receive income from natural gas leases. Pennsylvania is one of several states to benefit in recent years from the fracking boom.
DeFluri actually began his career as a petroleum engineer with Tenneco Oil Company, according to Dynasty and SevenBridge's website.
The managing partners have long-time experience in the wirehouse world. Eberly joined the industry in 1992 with Lehman Brothers, according to FINRA records. He later worked for firms such as Merrill Lynch prior to joining Wells Fargo in 1999. Prior to becoming an advisor, Eberly was a Field Artillery Officer with the U.S. Army, according a Dynasty.
DeFluri, who has 18 years of industry experience, also made the move to Wells in 1999. Others moving with the team are advisor Michael McConahy and Patricia Jakeway, director of client resources. McConahy had been with the wirehouse since 2008.
SevenBridge kicks off with a customized platform set up by Dynasty, which according to the firm, includes proprietary research from Wilshire Associates and Callan Associates, Envestnet portfolio tools and reporting technology. Charles Schwab will provide custody.
SevenBridge's focus on clients with natural gas leases will provide guidance on every step of the process, from first approach by an energy provider through incorporating assets into existing financial plans.
Dynasty has had several notable pickups this summer. In July, a Barclays team that oversaw $3 billion in assets left to form an independent firm with Dynasty's help. That team of six advisors operates from three offices in New York, Chicago and San Francisco. And in early August, they were joined by two more advisors from Barclays who managed $500 million in assets.
- $500M Barclays Team Goes Indy
- UBS Grabs Morgan Team With Nearly $1B in AUM
- LPL's New Marketing Strategy: Naming Names
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access