A pair of wealth advisers from Minnesota, previously managing $500m at Northwestern Mutual, has broken away from the firm to launch an independent wealth management business in partnership with Dynasty Financial Partners.
The new firm, called High Note Wealth, will be led by the sister-brother team of Katherine Forrester Schneewind and Michael Forrester.
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Schneewind will serve as the company’s CEO, while Forrester will be its president and CIO.
Overall, the company will include six professionals, and will cater to high net worth individuals, families and business owners.
High Note Wealth will utilise Dynasty’s wealth management services and business analytics.
The Minnesota-based firm will leverage Dynasty’s integrated Core Services platform for independent advisers and its turnkey asset management platform (TAMP).
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By GlobalDataIt is also expected to receive support from Dynasty’s in-house specialists, among others.
Additionally, High Note Wealth tapped Schwab for custody services.
Schneewind said: “We did serious due diligence for over a year and selected Dynasty to be our strategic partner. Their platform, technology, industry connectivity, and most importantly their people really understood our wealth management platform needs.”
Forrester added: “The idea of owning our own family business together and being able to grow our wealth management business with more high net worth clients is really exciting to us and our team.
“We also feel that over time there will be an opportunity for us to selectively grow inorganically by adding advisers who fit the culture of firm we are building.”
Dynasty supports financial advisory firms by offering them wealth management and technology platforms.
Last June, the company created a new division called Dynasty Enterprise Group to serve network partner firms managing over $1bn in assets.
This year, it rolled out Dynasty Connect, a new platform to support RIAs in their M&A programmes.
