Firm Looks to Expand Via M&A Opportunities
ST. PETERSBURG, Fla., May 16, 2023--(BUSINESS WIRE)--Dynasty Financial Partners today announced that Welcy Capital Advisors has joined the Dynasty Network. Welcy is the most recent independent advisory firm to leverage Dynasty Financial Partners’ industry-leading platform of technology-enabled wealth management solutions and business services for financial advisory firms.
Headquartered in Miami, Florida, Welcy Capital Advisors is a wealth management firm with expansive wealth management knowledge across all asset classes catering to international clients. The firm’s specialty and expertise focuses on the Latin American market and are well-versed in navigating new rules, requirements, and restrictions in the international trading space. The firm has two advisors: Nicolas Zalles, and Philip Henríquez.
"We believe partnering with Dynasty Financial Partners will bring a user-friendly platform that will allow us to onboard financial advisors quickly and seamlessly," commented Jaime Sosa, founder of Welcy Capital Advisors. "Our strategy is to grow Welcy Capital by adding like-minded advisors focused on the Latin American market."
The firm works with international and high-net-worth clients on portfolio construction, advising on individual securities, and managing specialized funds that invest in niche markets throughout the Americas.
Welcy Capital Advisors is interested in pursuing M&A opportunities with advisors in the Miami-metropolitan area and looking to expand in more Latin American countries in the future. The firm currently services clients from Argentina, Bolivia, Uruguay, Panama, Costa Rica, Curacao, and the U.S.
Shirl Penney, CEO of Dynasty Financial Partners, said, "We are honored to welcome the Welcy Capital Advisors team to the Dynasty community. We expect to see Welcy Capital Advisors grow quickly both organically and inorganically, as they will be a premium choice for advisors with international high-net-worth clients seeking partnership, professionalism, and integrity."
About the name Welcy: Previously called Principle Asset Management, the founding partners decided to rename their firm Welcy Capital Advisors to represent the three pillars they consider foundational in their service to their clients: wellness, wealth, and legacy.
Welcy Capital Advisors have selected Charles Schwab for custody. For more information, please visit welcycap.com.
Jaime Sosa holds a Bachelor in Business Administration with a Major in Finance from University of Texas, at Austin, Texas and a Master in Business Administration from Duke University. He has more than 30 years of experience in banking, investments and markets holding positions in different brokers dealers and banks such as American Securities, and Banistmo Securities Inc., where he was the Chief Executive Officer for many years.
Nowadays, Mr. Sosa is the CEO of Prival Group that includes: Prival Bank and Prival Bank Costa Rica, and Acerta Compañía de Seguros. Mr. Sosa also serves in the board of Grupo Prival and most of it’s subsidiaries. He has also served on the boards of the Panama Stock Exchange.
Carlos A Zalles
Mr. Zalles is currently a board member at Welcy Capital Advisors, and since 1999 has been Chairman and Founder of LWPartners, a group of offshore financial service companies with a presence in several Latin American countries. From 1995 through 1999, he was a founding partner and Managing Director of Andino Capital Markets, where he was responsible for Asset Management, as well as trading and distribution of Latin American securities. From 1987 through 1995, he was one of the founders of Vestcorp Partners, where he developed and managed the stock exchange trading and brokerage services of the firm throughout Latin America.
From 1980 through 1987, he held various positions at Bank of America, his last one was as Vice President and Senior Credit Officer in Mexico and Venezuela, running the bank’s problem loan portfolio for the Corporate Banking Group and the Financial Asset Group. From 1975 through 1980, he held several positions at American Security Bank in Washington D.C., becoming Vice President and Head of Latin America. He received a Bachelor of Science degree in Business Administration from Georgetown University and completed additional graduate studies in finance at George Washington University. Mr. Zalles has been actively involved in various committees of the McDonough School of Business at Georgetown University.
Chief Investment Officer
Mr. Nicolas Zalles is currently the Chief Investment Officer of Welcy Capital Advisors. From 2014 to 2021 he was Portfolio Manager at LW Investment Management USA for the Latin America Opportunities Fund and all the SMAs at the firm. Prior to that, Mr. Zalles worked at Biscayne Americas with his last role being Head Trader and Portfolio Manager from 2009 to 2014. Nicolas studied at Bryant University and holds a Bachelor's in International Business with a concentration in Finance and a minor in Economics.
Mr. Henríquez is currently a board member at Welcy Capital Advisors. He also acts as CEO of LW Investment Management, Ltd. He joined LW Investment Management Ltd. as Chief Executive Officer and Managing Partner in March 2016 and supervises the asset management activities. Mr. Henríquez has 35 years of experience in the financial services sector having served as a top executive in various firms. He was a member of the Executive Committees for different companies of Mercantil Servicios Financieros as well as Global Manager of Corporate and Investment Banking. Other responsibilities included the Corporate, Institutional, and Financial Institutions Banking Business in Latin America and the United States. Previous positions include Country Head for Mercantil Servicios Financieros in Panama (Mercantil Bank, Mercantil Seguros, and Mercantil Capital Markets), President of Mercantil Merinvest, and Board member of Mercantil Servicios Financieros, Mercantil Seguros, Mercantil Banco, and Mercantil Commercebank Holding Corporation.
He has also been president of Citibank Venezuela, Citigroup Venezuela Corporate Country Officer, Global Wholesale Banking Executive Vice-President, member of the Board of Directors of Banco Venezuela - Grupo Santander, President of Valores Santander Casa de Bolsa, and Corporate Bank Manager of Banco Exterior. He is currently a member of the Board of Directors of Cerámica Carabobo, BanCaribe Banco Universal. He has been part of the Board of Directors of the Venezuelan Council for Investment Promotion – CONAPRI, VenAmCham, the Venezuelan Institute of Finance Executives (IVEF), the Venezuelan Diabetic Foundation, the National Banking Council of Venezuela, the Caracas Stock Exchange, the National Art Gallery, and the Ideas Foundation. Mr. Henríquez received a degree in Economics from the Universidad Católica Andrés Bello in Caracas, Venezuela, and holds an MBA from Columbia University in New York, USA.
Dynasty is a provider of technology-enabled wealth management solutions and business services for financial advisory firms primarily focused on serving high net worth and ultra-high net worth clients. Dynasty provides access to a comprehensive platform of software and technology tools, business services and holistic investment management capabilities through an open-architecture platform delivered via a suite of proprietary and third-party technologies. Dynasty’s technology, tools and services provide advisory firms the supported independence to launch their business, scale their operations and grow their firms — both organically and inorganically — while also allowing them to be more focused on and better equipped to serve their clients. Dynasty’s platform and offering have won multiple awards in recent years.
For more than a decade, Dynasty has championed the benefits of independent wealth management for high net worth and ultra-high net worth clients and has contributed to the movement of assets from traditional brokerage channels to the independent channels of wealth management. As Dynasty is becoming a recognized industry leader, Dynasty has differentiated itself by developing competitive strengths, including a deep understanding of and strong relationship with its clients, a comprehensive offering of services and technology-enabled solutions, the ability to leverage its size and breadth to invest, the flexibility and seamlessness enabled by a modular technology solution, the entrepreneurial culture and experienced and committed management team. Dynasty is committed to continually growing its business by facilitating existing advisory firm clients’ growth, onboarding new clients, increasing the clients’ use of its broader capabilities, launching additional solutions and carrying out complementary acquisitions.
For more information, please visit www.dynastyfinancialpartners.com.
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