Kestra Financial says it has added 15 advisory groups, representing $2.2 billion in new recruitment assets, to its network of independent firms in the third quarter.
"While we are pleased with the momentum from this past quarter, we know it is not coincidental,” Daniel Schwamb, executive vice president of business development at Kestra, says in a statement. “We have quickly adapted to the new normal and worked diligently to provide the technology, industry expertise and back office assistance needed to thrive in the current environment from anywhere, anytime."
Schwamb says Kestra has seen “an acceleration of more wealth managers leaving employee models to launch their own businesses as a result of the pandemic” and that the firm expects the trend to continue.
Austin, Texas-based Kestra currently supports more than 1,700 independent financial professionals, the company says.
The new recruits in the third quarter were:
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