Evertern Wealth Launches With $2.4B in Property

A pair of UBS advisors overseeing about $2.4 billion in shopper belongings have created Evertern Wealth, a Naples, Fla.-based agency backed by Dynasty Monetary Companions.

The agency is led by Jason Stephens and Mic Lundon, and can work with high-net-worth households, founders and executives, whereas custodying belongings at Goldman Sachs. 

The agency focuses on enterprise homeowners approaching liquidity occasions, executives with concentrated fairness positions, in addition to current retirees and multi-generational household shoppers. In response to Stephens, the staff constructed Evertern to supply “institutional-level capabilities” in a “extremely customized advisory mannequin.”

“Our shoppers require coordinated steerage throughout investments, liquidity occasions and generational planning – not fragmented recommendation,” he mentioned.

In response to SEC information, Stephens began his profession in 1998 at Morgan Stanley earlier than becoming a member of UBS in 2007. Lundon additionally registered in 1998 with a short stint at Prudential earlier than becoming a member of UBS the next yr. As of now, each advisors are nonetheless registered with UBS in addition to Evertern.

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In response to Dynasty, the staff has labored with households by means of market cycles, liquidity occasions, and wealth transitions between generations over the previous 20 years, providing institutional portfolio administration, entry to different investments, property planning, and household workplace providers. Dynasty affords tech and operational help.

Final month, Dynasty Monetary Community agency Americana Companions acquired NRT Consulting, a monetary consulting and accounting agency. The transfer will allow Americana to supply accounting providers for shopper companies and private holdings, and can be provided as a definite service line in Americana’s Household Workplace Companies suite. 

Americana is majority-owned by personal fairness agency Lovell Minnick and manages over $12.1 billion in shopper belongings. The agency not too long ago attracted former Advantage Monetary Chief Monetary Officer Mike Mitchell as its CFO.

Moreover, Dynasty community agency Cyndeo Wealth Companions added Glenn Rodriguez as senior vp and monetary advisor. Rodriguez beforehand managed about $235 million at Merrill Lynch and works with widows, retirees and households navigating monetary selections. Rise Development Companions not too long ago made a minority funding within the agency.

In the meantime, the authorized fracas continues between Dynasty Monetary Companions and Merrill Lynch over OpenArc Company Advisory, a $129 billion Atlanta-based RIA that left the wirehouse to go impartial with Dynasty’s backing.

In a earlier ruling, Merrill Lynch claimed Dynasty had walked again its pledge to arbitrate any disputes involving OpenArc, however in a submitting final month, Dynasty accused the wirehouse of “sleight of hand,” arguing Merrill misinterpret a choose’s earlier order pausing the federal litigation.

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