SHIRL PENNEY: Dynasty works primarily with the advisors that want supported independence. And what we found is a lot of advisors want to be independent, but not alone. They want to be part of a community. They want to be around like-minded advisors that they can share and collaborate with, share best practices. So Dynasty creates that type of community.
One of the great things I think about the RIA ecosystem is you have entrepreneurs that are servicing other entrepreneurs, which creates this ultimate sense of accountability.
If we don't deliver a world-class service for our advisor client, we get fired, as we should. Just like if an advisor doesn't deliver for their client, they do as well. So it's not an employee-employer type relationship, it's a service relationship. With all of these businesses that have been created in the RIA ecosystem providing services to RIAs, it's allowed for the whole capability set now to be delivered, I think, in a truly differentiated way, but in a way that holds those service providers very accountable to the underlying RIAs that they serve.
As I think back of all the stories of those that we have on the platform and how we've helped them live their American dream, we talk very much about we get to live our American dream at Dynasty by empowering others to live theirs. We love all of our children the same, but if I reflect on it, there's a few that I'm particularly proud of. And I think about, we have three advisors that are on our platform now that are over the age of 70, and in some cases worked at their previous employer for 35 or 40 years. And they inspire me, and they inspire us, that at this stage of their career, they see the future of the industry on the independent side, and they've made the leap to start their own firm, and have been very successful.