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Business Observer Friday, Jun. 19, 2020 2 weeks ago

Investment advisor launches new wealth management firm

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Cyndeo Wealth Partners will be headquartered in St. Petersburg.

ST. PETERSBURG — Matt Kilgroe, a veteran investment advisor who previously worked for UBS and managed $1.2 billion in client assets, has launched Cyndeo Wealth Partners, based in St. Petersburg. 

Cyndeo, according to a press release, is part of the Dynasty Financial Partners network. Dynasty Financial Partners provides independent advisors access to a full array of capital markets and investment banking capabilities. The firm moved its headquarters from New York to St. Petersburg last year.

“There were a number of compelling reasons for us to launch Cyndeo Wealth Partners,” Kilgroe states in the release. “We had keen interest from our clients for more flexibility surrounding investments and service than we could provide in the wirehouse setting. In addition, we followed the evolution of the independent space — particularly on the technology side, and wanted to tap into the advanced capabilities. We are excited to utilize the technological tools that allow client data aggregating as well as financial modeling. And we wanted to create a strategy around succession planning.”

Cyndeo, the release states, already has clients in nearly 40 states. 

“I could not be more thrilled to partner with Matt and the entire Cyndeo team,” states Shirl Penney, CEO of Dynasty Financial Partners, in the release. “As one of the largest financial advisory teams in the greater Tampa/St. Pete area, Matt and the Cyndeo team are also deeply committed to the St. Pete community and are well known for their strong support for local causes. We are so proud and honored to support Cyndeo and their clients on their journey to independence right here in our hometown of St. Pete."

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