Dynasty Financial Partners is nixing its plans to go public. Having been afforded the luxuries of optionality and time, there were two requirements that were atop my list as we went through the process -- partnership and alignment,' Dynasty CEO Shirl Penney said in a statement. Several existing Dynasty investors and board directors also contributed to the capital raise, which will fund new investments in the firm's tech platform, the addition of new talent and a potential merger or acquisition, according to a statement. The capital raise adds to $50 million in new financing provided by a consortium of Wall Street banks that Dynasty announced in early October. The terms of Abry and Charles Schwab's minority equity investments in Dynasty were not disclosed, although Abry partner James Scola will take a seat on Dynasty's board of directors. We are thrilled to have the opportunity to invest in the leading wealth technology and integrated platform in the RIA space and are looking forward to putting all of Abry's resources behind the growth of the firm and its clients,' Scola said in a statement. Dynasty's network has 48 RIA partner firms with nearly 320 financial advisers and $75 billion in assets under management. However, year-over-year revenue growth slowed from 36% in May to 24% in August, according to financial statements filed with the U.S. Securities and Exchange Commission as part of the IPO. In 2021, Dynasty generated $69.3 million in total revenue.