Firm on pace for biggest recruiting year in almost 10-year history
AUSTIN, Texas--(BUSINESS WIRE)--Kestra Private Wealth Services, LLC (Kestra PWS), a registered investment adviser subsidiary of Kestra Financial, Inc. (Kestra Financial) that empowers breakaway wirehouse teams to achieve independence, is pleased to announce the addition of three new firms and two new wealth management professionals, which previously managed $845 million in total assets.
The surge in recruitment over the last several months marks the most successful quarter ever for Kestra PWS and puts the firm on track to have the largest growth year in its nearly 10-year history.
“Amid this challenging economic environment, wealth management professionals are seeking a highly customized level of support when going independent,” said Rob Bartenstein, CEO and Senior Managing Director of Kestra PWS. “Through Kestra PWS’ full-service independent model, we offer our partners the in-depth expertise needed to navigate these uncharted waters and satisfy key business needs, including real estate, equipment, compliance, and technology, that enable them to freely serve clients with their undivided attention. We are thrilled to welcome such a high-caliber roster of professionals to our platform and look forward to empowering their future success in the years to come.”
The following firms and wealth management professionals registered with Kestra PWS between May 1 and July 1, 2020.
Elevated Private Wealth Advisors: Headquartered in Salt Lake City, Elevated Private Wealth Advisors previously operated under the name Martucci Adams Wealth Advisors. The firm underwent a rebrand after welcoming Managing Partner Tyler Bolyard to the team in order to ensure the continuity of the business and recently expanded its geographic influence with the opening of an office in Springville, Utah. Founded by Managing Partners Craig Martucci and Todd Adams, the team also includes Amy Babbel, Senior Operations Manager, and Jenica Daniels, Client Relationship Manager.
“We were drawn to Kestra PWS’ depth of resources and top-notch reputation during our search for independence,” said Martucci. “At Elevated Private Wealth Advisors, we have an unwavering dedication to our clients’ success and believe a full-service independent model will give us the freedom to fully deliver on this commitment.”
The financial professionals at Elevated Private Wealth Advisors offer a broad range of services geared toward families and successful business owners, including comprehensive financial planning, income planning, asset allocation, and life insurance. The professionals of the firm oversee about $325 million in AUM.
Tyler McKean and Steven Hafner of True Alpha Wealth Management: Industry veterans Tyler McKean and Steven Hafner recently joined True Alpha Wealth Management, which joined Kestra PWS in 2018. The firm is located in Sandusky, Ohio, and plans to open a Toledo office to coincide with the expansion of its team. Prior to joining True Alpha Wealth Management, McKean and Hafner held vice president positions at UBS Financial Services.
“We decided to make the switch to independence to deliver on our promise to provide high-quality service to our clients through a sophisticated, integrated technology and investment management platform,” said McKean. “By utilizing Kestra PWS’ industry-leading technology, compliance, and infrastructure resources, we will be able to deliver first-class client service.”
McKean was named to the Forbes 2020 Best-In-State Wealth Advisors list as well as the Forbes 2020 and 2019 Next-Gen Best-In-State Wealth Advisors list. He has received both the Certified Exit Planning Advisor (CEPA®) and Accredited Wealth Management Advisor (AWMA℠) certifications. Hafner has over 20 years of financial services experience and is passionate about fostering relationships with multi-generational clients and collaborating with clients’ accountants, attorneys, and insurance professionals. The pair previously managed approximately $270 million in client assets.
Tidewater Financial: Tidewater Financial, a San Diego-based wealth management firm with a niche focus on fixed income markets, is led by Managing Director and 30-year industry veteran Walter Valenzuela. Valenzuela and his team serve the financial needs of retirees, families, athletes, and small businesses with a specialization in developing conservative growth strategies while preserving capital.
“In Kestra PWS, we found the ultimate boutique experience,” said Valenzuela. “Our business plans to modify our services to incorporate equity investments and financial planning over time. This natural evolution of our firm would not be possible without Kestra PWS’ expertise, tools, and leadership.”
Prior to founding Tidewater Financial, Valenzuela was a top-producing advisor at Hilltop Securities, where he managed approximately $190 million in client assets.
Ceres Wealth: Based in Palatine, Illinois, the financial professionals of Ceres Wealth offer full-service financial advising and asset management to individuals, families, nonprofit organizations, and businesses. The firm was established by Managing Partner Zachary Butler, who has nearly 20 years of experience in the financial services industry and a specialization in portfolio management.
“When searching for a strategic partner to facilitate our transition to independence, we ultimately landed on Kestra PWS for three main reasons — the positive culture, extensive support provided to their financial professionals, and depth of industry experience throughout the firm,” said Butler. “We look forward to our engagement with Kestra PWS and further elevating our level of client service.”
Butler previously managed approximately $60 million in client assets.
Founded by and for financial professionals exiting the wirehouse, Kestra PWS has offered full-service independence through its industry-leading, premier turnkey model since 2011. The firm’s experienced team provides unparalleled support in four integral areas — real estate and office set-up, office equipment, centralized compliance and operations, and cutting-edge technology solutions — so independent professionals can worry less about the details of business ownership and spend more time serving their clients.
To learn more about Kestra PWS’ unique service offerings, please click here.
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 advisor teams across the nation. Kestra PWS was established by wirehouse veterans with the express purpose of enabling former wirehouse financial advisors to achieve independence and growth. The firm's platform is comprised of an independent RIA in association with Kestra Investment Services, LLC as broker-dealer in order to provide its financial advisors with an open architecture platform and independence across both fee and transaction-based business models. Kestra PWS has helped 28 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 Investment Services, LLC, member FINRA/SIPC, and also of Kestra Advisory Services, LLC; Kestra Private Wealth Services, LLC; and Kestra Institutional Services, LLC, all federally registered investment advisers.
The professionals at Elevated Private Wealth Advisors, True Alpha Wealth Management, Tidewater Financial, and Ceres Wealth offer securities through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Private Wealth Services, LLC (Kestra PWS). Elevated Private Wealth Advisors, True Alpha Wealth Management, Tidewater Financial, and Ceres Wealth are member firms of Kestra PWS, an affiliate of Kestra IS. Elevated Private Wealth Advisors, True Alpha Wealth Management, Tidewater Financial, and Ceres Wealth are not affiliated with Kestra IS.
For more information, visit www.kestrafinancial.com.
Gregory FCA for Kestra Financial, Inc.
Jill Fritz, 484-832-7034