Dynasty Financial Partners brought onboard a founding member of one of its closest competitors on Tuesday. Ed Friedman, formerly the director of advisor development at Hightower Advisors, will now serve as Dynasty’s director of strategic relationships, the firm reported.
In his new role, Friedman will assist with Dynasty’s business development, manage client relationships and provide practice management programs through the firm’s network advisors. He will report jointly to Dynasty’s CEO and president Shirl Penney, as well as COO Ed Swenson.
“Ed brings a unique perspective to Dynasty having experience in wirehouse world, independent space, and as a consultant to advisors around areas of practice management,” Penney said in a statement Tuesday. “He will be a great educator for advisors considering independence, and a great advisor advocate and coach for those in our growing network.”
Part of the founding management team at Hightower, Friedman has been working as a consultant on topics such as practice management and succession planning since his departure in October 2011. While with Hightower, Friedman assisted in attracting the first 18 teams to the firm.
Prior to joining Hightower in 2008, Friedman was with Morgan Stanley for over 20 years. Starting out as an advisor in 1985, Friedman worked his way up to senior management positions, ending as an executive director, complex manager at Morgan Stanley Global Wealth Management for his final four years with the firm.
Friedman noted in a statement he was excited to bring his experience to bear at Dynasty. “They have proven over and over that they provide the industry-leading platform for advisors seeking independence or to RIAs looking for a growth partner,” he says.