Dynasty to Help Life Settlement Firm Add Wealth Services

Abacus Life, a life settlement company, has picked Dynasty Financial Partners to help it start a wealth division.

Abacus CEO Jay Jackson said working with Dynasty to provide financial planning and investment management services “is the natural next step forward for Abacus.”

Shirl Penney, Dynasty’s CEO, said his firm is thrilled to be working with Abacus.

“Jay and the team are well-positioned to hit the ground running,” Penney said.

What it means: Traditionally, life insurers and life insurance agents often expanded by offering wealth management services.

Today, providers of other, related types of financial services may be more likely to enter the wealth services market.

The players: Abacus is an Orlando, Florida-based company that began helping life policy owners sell their policies in 2004.