The advisory team, which will work out of New York City, is led by Frank McKiernan and Jerry Sneed.
BY SAM BOJARSKI
A Dynasty Financial Partners-backed RIA in Connecticut has picked up a five-person advisory team from Baker Tilly.
The team, led by Frank McKiernan and Jerry Sneed, managed over $600m in assets and joins Shelton-based Procyon Partners, according to Dynasty. Both advisors will assume the title of senior vice president and private wealth advisor at Procyon.
They are joined by Jerry’s son, advisor Christopher Sneed, along with two client service associates: Amanda DiGuiseppe and Emily Demers.
‘I focus mostly on the high net worth to ultra-high net worth space,’ McKiernan told Citywire. ‘Most are private company CEOs, serial entrepreneurs or families with significant generational wealth.’
The team, which left Baker Tilly Wealth Management last week, started on Monday, McKiernan said. A $3.9bn RIA, Baker Tilly Wealth Management is controlled by the accounting firm Baker Tilly US, according to regulatory disclosures.
‘We got a real window into what it meant to be fully independent in the quasi-independence world,’ McKiernan said. ‘The move is something we thought was best for the client-advisor experience.’
McKiernan and Jerry Sneed helped lead the Baker Tilly advisory practice as executive managing directors, according to the company’s website.
They both registered with Baker Tilly in 2021, after working for about two years at broker-dealer Merrill Lynch.
The advisors will have a path to equity in Procyon, said Phil Fiore, chief executive of the $4.9bn RIA. They will work out of the firm’s New York City office, he added, joining Procyon managing director Jim Jeffery.
‘It’s a young team, and what’s great is we have some young partners already,’ Fiore said. ‘I see the next generation of Procyon being built right before our eyes.’
Procyon, which is majority-owned by its employees, joined middle- and back-office service provider Dynasty in 2017. In the first ever merger of Dynasty RIAs, Procyon merged with New York-based Pivotal Planning Group in 2021.
Since then, Procyon has added five advisory teams, including the recent team from Baker Tilly, according to Dynasty.
Baker Tilly did not respond to a request for comment.
Disclosure: This e-mail message, including any attachments, from Dynasty Financial Partners LLC (d/b/a Dynasty) or Dynasty Wealth Management LLC, a subsidiary of Dynasty, and registered investment advisor, or one of Dynasty’s affiliated subsidiaries, as indicated herein, is intended only for the individual to whom it is addressed. This e-mail may contain information that is privileged, confidential and exempt from disclosure under applicable law. If you are not the intended recipient (or the agent or employee responsible to deliver it to the intended recipient), you are hereby notified that any disclosure, dissemination, distribution or copying of this communication is strictly prohibited. If you received this e-mail in error, please notify the sender immediately and destroy this e-mail along with any attachments from your system. Thank you. *Dynasty Securities LLC is a limited purpose broker-dealer and functions as a paymaster in order to receive and pay commissions or transaction based revenues to and from third-parties in the following product lines: (a) Broker retailing corporate equity securities; (b) Broker retailing corporate debt securities; (c) Mutual fund retailer; (d) Private placement of securities; (e) Broker selling variable life insurance and annuities; (f) Broker selling interests in unregistered private investments.