11:30 AM EDT, 10/08/2024 (MT Newswires) -- BlackRock (BLK) and JPMorgan Chase's ( JPM ) J.P. Morgan Asset Management participated in a minority capital raise round for Dynasty Financial Partners as new investors, along with existing backer Charles Schwab ( SCHW ) , Dynasty said Tuesday.

"All proceeds from the investment round will go directly into Dynasty's business to enhance its platform," said the company, which provides back-office and other services for independent financial advisory firms.

The round valued Dynasty Financial at roughly $800 million, Bloomberg News reported, citing a person familiar with the matter.

J.P. Morgan Asset Management declined MT Newswires' request for a comment. BlackRock and Charles Schwab ( SCHW ) didn't immediately respond to MT Newswires' requests for comment.

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