Dynasty Financial Partners hired industry veteran Marc Hineman to serve as its new Chief Operating Officer, and appointed Tim Oden to the newly created position of Chief Growth Officer and Andrew Marsh to the newly created role of Head of Core Services.
The appointments were part of “strategic changes and additions to its executive team to facilitate innovation, streamline decision-making, and scale its business for future growth,” Dynasty said in a press release.
Hineman will officially start working at Dynasty in October and will report directly to Shirl Penney, the firm’s CEO, a company spokesperson told WSR. Dynasty’s CFO, Justin Weinkle, was serving as interim COO before Hineman’s appointment, the spokesperson added.
“Dynasty had been looking for a permanent COO” since Angela Gingras left the company in May to join financial data company Confluence as its Director of Compliance Managers, the spokesperson said.
The other appointments announced by Dynasty on Thursday became official the same day.
Hineman has decades of experience in technology, operations and corporate M&A, as well as driving scale and business growth, according to the firm. He will be “invaluable to Dynasty as it explores new ways to innovate as the partner of choice for financial advisors and their clients,” it said.
Hineman previously worked for almost eight years at Pico, a New York-based provider of technology services for financial markets, according to his LinkedIn profile. Prior to Pico, Hineman served at Wells Fargo for nearly seven years and JPMorgan for over six years.
Newly Created Roles
Marsh, Dynasty Vice Chairman, was named Head of Core Services. He joined Dynasty in April 2023 as its first consulting Executive-in-Residence before being named to the permanent role of Vice Chairman.
According to the press release, as Head of Core Services, Marsh “will architect the services that comprise Dynasty’s offering to its Network of firms together into one united, streamlined team, innovating the firm’s approach to facilitating and supporting the growth of Network Firm businesses. Marsh will also continue his work advising Dynasty’s Network of Firms’ CEOs in its Advisor to CEO program.”
Oden was named Chief Growth Officer after serving as Dynasty’s most recent Executive-in-Residence. In nearly 37 years at Charles Schwab, he was part of the team that pioneered its custodian business, according to Dynasty.
As Chief Growth Officer, Oden will “leverage his deep industry experience and expertise to drive the growth” of the firm and its network, according to the release.
“Our Network Partners are everything to us,” said Penney. “Their robust organic growth, resilient investment platforms, and thriving M&A activity recently propelled us over the $100 billion asset mark, so we are dedicated to constantly evaluating our ability to power their independence and continued growth.”
Penney added: “The strategic changes we have made to our business position us to support the extraordinary growth we – and they – are experiencing and forecasting. Marc, Tim, and Andrew are key to this effort.”
Dynasty’s network includes 56 independent firms and 400 advisors, with an average assets under management (AUM) per firm of almost $1.8 billion and average assets per advisor of about $250 million, according to the firm.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.
