Welcome to The Private Markets Playbook, a podcast for wealth advisors and CIOs navigating portfolios beyond the traditional 60/40. Hosted by Allocate, the show features candid conversations with allocators, asset managers, and industry leaders on building modern, programmatic portfolios—spanning private markets, portfolio construction, and the systems required to manage complexity at scale.
In this episode, Samir Kaji sits down with Shirl Penney, Founder and CEO of Dynasty Financial Partners, to discuss the vision behind Dynasty and the growing movement toward independent, fiduciary wealth management. Shirl shares how his early career led him to see a need for advice that puts clients first, and how Dynasty helps advisory firms scale through an integrated operating platform. They also explore Dynasty’s work with Anthropic to bring AI into advisors’ workflows, the potential for technology to give advisors more time for meaningful client relationships, and the opportunities and challenges of expanding access to private markets—including the importance of education, operational support, and manager selection. Shirl closes with advice for entrepreneurs: build around a mission you love and bring aligned people together to pursue it.
Topics in this conversation include:
* Shirl’s Background and Motivation for Founding Dynasty (1:54)
* The Client-First Case for Independent Advice (5:23)
* Using Technology to Scale Advisor Service (8:37)
* Dynasty’s Partnership With Anthropic and Claude (13:33)
* How AI Can Give Advisors More Time With Clients (17:23)
* Why Private Markets Matter and How Allocations Are Changing (23:52)
* Barriers to Advisor Adoption of Alternatives (27:58)
* Advice for Entrepreneurs: Build Around a Mission (32:42)
* Closing Reflections on Dynasty’s Mission (35:38)
Thank you for listening to the Private Markets Playbook. To learn more about our work and how we’re supporting access to alternative investments, visit us at allocate.co. We look forward to connecting with you.
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Any opinions, assumptions, assessments, statements or the like (collectively, “Statements”) regarding market condition, future events or which are forward-looking, including Statements about investment processes, investment objectives, goals, risk management techniques, views of possible future outcomes in any investment asset class or market, or of possible future economic developments, constitute only market commentary based on the subjective views, beliefs, outlooks, forecasts, projections, estimations or intentions of Allocate, should not be relied on, are subject to change. Although Allocate believes that the expectations reflected in the Statements are reasonable, no representation is made or assurance given that such Statements are correct or that the objectives of an investment product or service will be achieved or that investors will receive a return of their capital or will not sustain losses. All investments involve risks and uncertainties, as disclosed in the applicable offering documents. Allocate undertakes no responsibility or obligation to revise or update any Statements. Statements expressed herein may not be shared by all personnel of Allocate. This page and the Statements are not intended as investment advice or recommendations by Allocate. It is Allocate’s policy that investment recommendations to its clients must be based on the investment objectives and risk tolerances of each individual client.
This page and Statements may contain or are based on third-party sources that, although believed to be reliable, have not been independently verified. Market and investment views of third parties presented herein do not necessarily reflect the views of Allocate. All such information is as of the date indicated, if indicated, may not be complete, is subject to change. All rights to the trademarks, copyrights, logos and other intellectual property listed herein belong to their respective owners and the use of such logos hereof does not imply an affiliation with, or endorsement by, the owners of such trademarks, copyrights, logos and other intellectual property.
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Dynasty Financial Partners is a U.S. registered trademark of Dynasty Financial Partners, LLC (“Dynasty”). These models and any other investment advisory products are offered through Dynasty Wealth Management, LLC, (“DWM”), a registered investment adviser with the Securities and Exchange Commission, and a subsidiary of Dynasty. Any reference to the terms “registered investment adviser” or “registered” does not imply that DWM or any person associated with DWM has achieved a certain level of skill or training. A copy of DWM’s current written disclosure statement discussing our advisory services and fees is available for your review upon request.
