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A pair of UBS advisors overseeing about $2.4 billion in client assets have created Evertern Wealth, a Naples, Fla.-based firm backed by Dynasty Financial Partners.
The firm is led by Jason Stephens and Mic Lundon, and will work with high-net-worth families, founders and executives, while custodying assets at Goldman Sachs.
The firm focuses on business owners approaching liquidity events, executives with concentrated equity positions, as well as recent retirees and multi-generational family clients. According to Stephens, the team built Evertern to offer “institutional-level capabilities” in a “highly personalized advisory model.”
“Our clients require coordinated guidance across investments, liquidity events and generational planning – not fragmented advice,” he said.
According to SEC records, Stephens started his career in 1998 at Morgan Stanley before joining UBS in 2007. Lundon also registered in 1998 with a brief stint at Prudential before joining UBS the following year. As of now, both advisors are still registered with UBS as well as Evertern.
According to Dynasty, the team has worked with families through market cycles, liquidity events, and wealth transitions between generations over the past 20 years, offering institutional portfolio management, access to alternative investments, estate planning, and family office services. Dynasty offers tech and operational support.
Last month, Dynasty Financial Network firm Americana Partners acquired NRT Consulting, a financial consulting and accounting firm. The move will enable Americana to offer accounting services for client businesses and personal holdings, and will be offered as a distinct service line in Americana’s Family Office Services suite.
Americana is majority-owned by private equity firm Lovell Minnick and manages over $12.1 billion in client assets. The firm recently attracted former Merit Financial Chief Financial Officer Mike Mitchell as its CFO.
Additionally, Dynasty network firm Cyndeo Wealth Partners added Glenn Rodriguez as senior vice president and financial advisor. Rodriguez previously managed about $235 million at Merrill Lynch and works with widows, retirees and families navigating financial decisions. Rise Growth Partners recently made a minority investment in the firm.
Meanwhile, the legal fracas continues between Dynasty Financial Partners and Merrill Lynch over OpenArc Corporate Advisory, a $129 billion Atlanta-based RIA that left the wirehouse to go independent with Dynasty’s backing.
In a previous ruling, Merrill Lynch claimed Dynasty had walked back its pledge to arbitrate any disputes involving OpenArc, but in a filing last month, Dynasty accused the wirehouse of “sleight of hand,” arguing Merrill misread a judge’s earlier order pausing the federal litigation.
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