A Morgan Stanley adviser who managed approximately $600 million in client assets has formed an RIA with Dynasty Financial Partners, the company said.
Brian Buckley launched his eponymously named firm in Las Vegas.
He is among the latest high profile wirehouse producers to strike out on their own. Last month, Dynasty helped adviser Jerry Nigro form an independent practice in Boston. He previously oversaw $300 million while at investment bank Robertson Stephens.
But Dynasty isn't alone in assisting breakaway moves.
In recent weeks, HighTower said it helped two mega teams go independent. A Wells Fargo team that oversaw $1 billion in client assets left last month to join HighTower in Jacksonville, Florida. And two advisers, previously with Wells Fargo and Morgan Stanley, formed an independent firm with HighTower in New York. They previously oversaw a combined $1 billion in assets.
A spokeswoman for Morgan Stanley declined to comment on Buckley's departure.
Buckley, an industry veteran of nearly four decades, had worked at Morgan Stanley since 1988, according to FINRA BrokerCheck records. Prior to the wirehouse, he was an adviser with PaineWebber.
Also moving with him are Dawn Buchan, director of operations, Lori Chittenden, portfolio manager, and Sonia Pittman, financial analyst. Susan Buckley, Brian's wife, also joined the firm as chief compliance officer.
Dynasty said Buckley's new firm also has a partnership with Fidelity Clearing & Custody Solutions. The company also said it will further provide Buckley with assistance on marketing as well as streamlining operations and investment offerings.
Buckley said he made the move in part to improve the capabilities he could offer clients.
"We will broaden our investment offerings, provide more competitive trading execution and have increased access to research and cutting-edge technology," Buckley said in a statement.
Dynasty also recently hired a new director of RIA growth strategies: Joseph Rizzo, who previously worked at Steward Partners Consulting Solutions. Rizzo is responsible for assisting firms in Dynasty's network with mergers and acquisitions as well as other business development opportunities.