Partnership is the Key Component to Building a Successful Business
Looking back on my evolution from financial advisor to the CEO of Kestra Private Wealth Services, one common theme stands out: partnership. Throughout my career, I have been blessed with great partners—people who shared my passion and my vision for what could be. Without the help of incredible partners all along the way, I would not have experienced the level of success I am so grateful to have achieved.
When Scott and I teamed up with Kestra Financial, everything changed. After an exhaustive, year-long search, we found the right partner that believed in our vision and had the resources, capital, and platform we needed to drive real growth and ramp up our service model in the fully supported independent space. Most importantly, in a space filled with firms that wanted to play “Let’s Make a Deal,” Kestra’s leadership focused on the fit and what we wanted to build in the future.
Since We Found the Right Partner, We’ve Experienced Tremendous Success
Here’s a few milestones we achieved after finding the right partner:
- Grown from 12 firms to 50 by the end of 2022
- Added 100 advisors
- Gained over $5 billion in assets
- Our firms, on average, have $225 million in AUM and produce an average of $1.8 million in revenue
- Size of firms continues to increase—in 2022, we added one firm over $5 million in revenue, one over $3 million, and we have two more firms over $3 million slated to join in early 2023
- Expanded to 41 locations across 20 states
How Advisors Can Grow and Achieve More by Partnering with Kestra Private Wealth Services
Like our partnership with Kestra Financial, good partnerships empower you to accomplish things that aren’t possible on your own. Nine years after joining forces with Kestra, Kestra Private Wealth Services is now that game-changing partner for advisors looking to exit the wirehouse. We help advisors manage everything they need to start their own venture so they can build the business they’ve always wanted and reach their full potential through fully supported independence.
If you are considering making the jump to the independent channel, finding the right partner to help you to and through your transition could make or break your new venture. There are many partners to choose from with varying levels of service and support.
Why Kestra Private Wealth Services is Different
At Kestra Private Wealth Services, we focus on partnering with growth-minded advisors who want full-service support so they can truly build enterprise value in their life’s work.
- Our fully supported model was designed for advisors who value time more than anything. In our model, we’re the hospital, and our advisors are the surgeons. We take care of everything else so you can focus on your core business. With our support, you can spend more of your time focused on your core competencies without having to learn a variety of new (time-draining) skills required to stand up and run a wealth management practice.
- Everything we offer can be fully personalized to fit your unique needs. Unlike other firms, we custom-build each office, make all rent payments, and provide site management in perpetuity. We also help each team we work with build out additional space and offices for growth—which has been very important for our advisors.
- Our firms can utilize their real estate budget and open multiple office locations to showcase their size and growth in the market. We’ve had six teams implement this strategy in 2022.
- For firms transitioning from the wirehouse to the independent space, we collaborate with industry veteran Philip Palaveev, CEO of The Ensemble Practice, to consult on firm development and organizational documentation to nail the ideal firm structure for every team.
- We offer an aggregated payout for all advisors that use the same company name and brand.
- Access to consulting services for third-party technology tools like RedTail and eMoney. Plus, performance reporting services to help you improve efficiencies within your customized tech stack.
- We continuously upgrade our platform with the latest technology and service offerings to ensure our advisors have access to the best tools to help them run their businesses. We’ve even developed a suite of high-net-worth services that most independent platforms can’t offer.
Choosing the Right Partner Can Make All the Difference
If you’re contemplating a wirehouse exit and want to hit the ground running, schedule a meeting with our team, and we’ll discuss how we will tackle every detail of your transition and launch of your new business. We have incredible first-hand knowledge and deep expertise in this fast-growing segment of our industry. We’re confident that we’re the premier partner for advisors seeking full-service independence.