ThinkAdvisor – $900M Ex-UBS Group Moves to Dynasty

Jan 1, 2014 3:12:00 PM / by Fusion Family Wealth


Dynasty Financial Partners said Tuesday that a team of advisors previously working for UBS (UBS) is now using its wealth-management and IT platform, after recently setting up shop as Fusion Family Wealth, an independent investment advisory firm with offices in New York and Long Island, N.Y.

“Fusion Family Wealth offers its clients an innovative business model,” said Dynasty President & CEO Shirl Penney, in a statement. “Over the years, [its leader Jonathan Blau] has built a substantial network of accounting and legal professionals and has successfully collaborated with a wide center of influence in building his business. Now, more opportunities will present themselves to Fusion Wealth as independent advisors and they will be able to deliver a wider solution set to clients.”

In addition to Blau, an ex-senior vice president with UBS who is now the group’s CEO and president, Fusion Family Wealth includes three other advisors and one associate: Harvey Radler, Jeffrey Blick, Joel Bodner and James Cloudman.

“Fusion Family Wealth was formed for a simple reason: We recognized that clients expect a high level of professional care aligned with the highest legal fiduciary standard. As an SEC-registered firm, we are able to fuse these two concepts together,” said Blau, in a press release.

Blau has worked in the past for Sanford C. Bernstein and Morgan Stanley (MS), as has Radler—who also has over 40 years in the business and served on a disciplinary panel of the NYSE for 25 years.

Blick joined a tax practice at Arthur Anderson, moved to Merrill Lynch and then was part of the Blau/Radler Group at Morgan Stanley in 2000, before joining UBS with the group in 2008.

Bodner worked for Merrill Lynch (BAC) and UBS, while Cloudman joined the group at UBS in 2010

“At Fusion, we are committed to offering the highest standard of care to individual clients and professional services clients,” Blau noted.  “This is possible through Dynasty’s open-architecture platform of best-in-class resources. All of our clients benefit from the scale of the Dynasty Network. In addition, we now have the flexibility to work strategically with large accounting and law firms in handling a wider array of financial capabilities.”

Dynasty says it built a unique platform for Fusion Family, which includes Dynasty’s investment platform that offers advisors research from Wilshire Associates and Callan Associates, as well as Envestnet portfolio tools and reporting technology. Fidelity Institutional Wealth Services will provide clearing and custody services for the new affiliated group.
Last week, Dallas-based Point Bridge Capital moved to Dynasty’s wealth management services and technology platform; it was founded by a former-Credit Suisse director.

Tags: Fusion in the News