Rise Growth Partners has taken a minority stake in Cyndeo Wealth Partners, an independent RIA managing around $3.1bn in assets.

Florida-based Cyndeo, with offices in St. Petersburg and Lake Mary, works with clients including entrepreneurs, corporate executives, and professional athletes, primarily across the Southeast.

Cyndeo Wealth Partners was established in 2020 by industry professionals. Matt Kilgroe, the firm’s president and chief executive, previously held a senior role at UBS before founding Cyndeo.

The firm has developed a service model focused on financial planning for clients facing complex transitions.

Its CW Boss division specialises in supporting athletes from the NBA and NFL, providing tailored financial guidance and working with other professionals such as agents and accountants.

According to both parties, priorities will include expanding advisor recruitment and onboarding in Florida and neighbouring states, enhancing operational infrastructure, refining business strategy, and supporting potential mergers and acquisitions.

Rise managing partner Joe Duran said: “Cyndeo has built a performance-driven culture with clear expectations, accountability and support, which makes them exactly the kind of firm we look to partner with.

“We’re proud to join Dynasty to accelerate this next phase of growth. Together, this positions us to be truly ambitious, particularly in lifting high-performance advisors out of the wirehouse environment and giving them independence without sacrificing scale or support.”

Dynasty Financial Partners, which invested in Cyndeo at its launch, will maintain its involvement through this new partnership.

Dynasty will continue to provide technology resources and investment platform support to Cyndeo as part of ongoing collaboration with Rise Growth Partners.

Dynasty Financial Partners CEO Shirl Penney commented: “It is an exciting chapter to partner alongside Rise as we continue our long-standing relationship with Cyndeo.

“We’ve been proud to support the firm since its launch, and we’re excited to continue backing Cyndeo as an investor and strategic partner. Together with the Rise team, we look forward to helping Cyndeo scale its platform and advance its growth for the benefit of both its clients and advisors.”