How and Why NY Financial Services Firm Chose to Relocate to St. Pete: Dynasty in Forbes

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Dynasty Financial Partners CEO Shirl Penney says in Forbes that his firm first considered relocating from New York City because they were certain moving would give Dynasty a "significant competitive advantage" through "expanding our operating margins by lowering expenses while simultaneously enhancing our employees' quality of life."

In 2019, Dynasty relocated to St. Petersburg, Florida after looking at nearly a dozen cities as possible sites to relocate. To evaluate the rival cities, Dynasty considered a list of criteria, such as:

●    Cost of living

●    Commercial real estate

●    Residential real estate

●    Discount on payroll

●    Travel – local (commute)

●    Travel – air

●    Taxes – corporate

●    Taxes – personal

●    Talent availability

●    Local college support

●    Ability to move key people

Penney discusses the systemic approach Dynasty took to choosing St. Pete and persuading "a cadre of elite financial professionals" to move from New York in "How And Why Dynasty Financial Partners Chose To Move To St. Petersburg, Fla."