Dynasty Financial Partners gatekeeper Michael Moriarty has left the firm but will continue to work as an advisor to its investment platform.
Moriarty had previously been director of investment platforms at the firm, a role in which he had responsibility for Dynasty's recommended list of mutual funds, exchange-traded funds and separately managed accounts.
He is now no longer an employee at Dynasty but will work with the business in an advisory capacity.
Dynasty has moved to boost its platform team by hiring a gatekeeper from Deutsche Bank’s private bank.
The firm has recruited Joe Dursi, who was previously US head of investment solutions for Deutsche’s private bank, to be director of its investment platform.
In addition to his role as director of the Dynasty platform, Dursi will also lead investment solutions for Dynasty’s east coast division and join Dynasty’s investment committee.
He will report to Dynasty chairman Todd Thomson, who oversees the investment platform and the finance team. He will also work closely with Scott Welch, Dynasty’s chief investment officer.
Dursi's recruitment follows that of Matthew Marsh as director of investment solutions last August from Morgan Stanley.
Prior to Deutsche Bank, he served as the US head of portfolio consulting for more than five years at Barclays Wealth and Investment Management. Previously, he also held senior roles at Lehman Brothers Private Investment.
‘As director of the investment platform, Joe's expertise and track record in research and investments will add depth and capabilities to our investment team to continue the innovate on and growth of our investment platform and help our advisors implement some of the industry’s finest investment solutions on behalf of their clients,’ said Thomson.
New York-based Dynasty Financial has a network of 43 RIA firms who manage over 50 offices across the US with more than 120 advisors with around $20 billion in client assets.