AUSTIN, Texas–(BUSINESS WIRE)–Kestra Private Wealth Services, LLC (Kestra PWS), a registered investment adviser subsidiary of Kestra Financial, Inc. (Kestra Financial), has expanded its real estate footprint by opening and filling seven new locations for wirehouse breakaway teams in 2020. This brings the firm to 26 locations and 32 single- and multi-team offices across the country.
The latest additions to the Kestra PWS network are American Wealth Management of Prescott, Arizona, and PlanWell Private Wealth Services of San Antonio, Texas, whose teams previously managed over $205 million in collective client assets. Earlier this year, Kestra PWS opened new office locations for the following teams: True Alpha Wealth Management in Toledo, Ohio; Ceres Wealth in Palatine, Illinois; Elevated Private Wealth Advisors in Springville, Utah; Tidewater Financial in San Diego, California; and OWL Private Wealth Advisors in Bloomfield Hills, Michigan. The financial professionals of the seven new teams collectively oversee $837 million in assets.
“When exiting the wirehouse, establishing a physical office is one of the largest challenges facing financial professionals,” said Rob Bartenstein, Senior Managing Director and CEO of Kestra PWS. “That’s where our expertise comes into play. From sourcing an office location to negotiating lease terms to paying rent, we take on the financial and emotional burden of real estate so our partners feel confident stepping out of the wirehouse environment and into independence.”
Real estate is one of four core pillars that uphold Kestra PWS’ turnkey model. The firm also offers comprehensive support with office equipment, centralized compliance, and cutting-edge technology solutions to enable independent professionals to focus on their clients rather than day-to-day business operations.
“As two former wirehouse financial advisors, Rob and I know from experience what it takes to successfully transition out of the wirehouse,” said Scott Wilson, Senior Managing Director and COO of Kestra PWS. “Over the last 10 years, we’ve developed a well-oiled process to support financial professionals in their pursuit of independence and sustainable business growth. We left the wirehouse in search of freedom and are honored to leverage our expertise to help others do the same.”
About Kestra Private Wealth Services
Kestra Private Wealth Services, LLC (Kestra PWS) is a hybrid registered investment adviser (RIA) supporting fee- and transaction-based independent financial professional teams across the nation. Kestra PWS was established by wirehouse veterans with the express purpose of enabling former wirehouse financial professionals to achieve independence and growth. The firm’s platform is composed of its independent RIA in association with Kestra Investment Services, LLC (Kestra IS) as broker-dealer in order to provide its financial professionals with an open-architecture platform and independence across both fee- and transaction-based business models. Kestra PWS has helped 32 single- and multi-team offices across the country find independence with their full-service support model.
For more information, visit www.kestrafinancial.com/private-wealth-services.
Kestra Financial, Inc. (Kestra Financial) provides a leading independent advisor platform that empowers sophisticated, independent financial professionals, including traditional and hybrid RIAs, to prosper, grow, and provide superior client service. With a culture rich in reinvention and advisor advocacy, Kestra Financial has developed integrated business management technology that, combined with its personalized consulting services, offers exceptional scale and efficiency.
Kestra Financial is the parent company of Kestra IS, member FINRA/SIPC, and also of Kestra Advisory Services, LLC; Kestra PWS; and Kestra Institutional Services, LLC, all federally registered investment advisers.
The professionals at American Wealth Management, PlanWell Private Wealth Services, True Alpha Wealth Management, Elevated Private Wealth Advisors, Ceres Wealth, Tidewater Financial, and OWL Private Wealth Advisors offer securities through Kestra IS, member FINRA/SIPC. Investment advisory services offered through Kestra PWS. American Wealth Management, PlanWell Private Wealth Services, True Alpha Wealth Management, Elevated Private Wealth Advisors, Ceres Wealth, Tidewater Financial, and OWL Private Wealth Advisors are member firms of Kestra PWS, an affiliate of Kestra IS. American Wealth Management, PlanWell Private Wealth Services, True Alpha Wealth Management, Elevated Private Wealth Advisors, Ceres Wealth, Tidewater Financial, and OWL Private Wealth Advisors are not affiliated with Kestra IS.
For more information, visit www.kestrafinancial.com.