Kestra Financial Lures $1.4 Billion Wealth Empowerment Financial Strategies
Kestra Financial has added Wealth Empowerment Financial Strategies, or WEFS, to its network of independent wealth management firms.
Led by Eric Lyon, senior managing director and founder, and Tom Holly, senior managing director, WEFS specializes in wealth management and retirement solutions to help clients realize their investment goals. The WEFS team of 31 independent advisers and staff members oversees $1.4 billion in assets under management.
Established in 2006, WEFS said it plans to leverage its partnership with Kestra to further streamline its financial solutions offerings. Built on a foundation of teamwork and collaboration, WEFS will continue its white-glove service spanning estate planning, 401K offerings, cash balance strategies, and more.
“After a long process of interviews and due diligence, the decision to move forward with Kestra Financial was a natural one,” said Lyon. “We were impressed with everything Kestra Financial had to offer – from its executive management team and technology platform to its back-office tech and resources – and knew this would help the growth of our firm down the line.”
The WEFS team join Kestra from B. Riley Wealth Management.
“We’re thrilled to welcome WEFS to our network of independent wealth management firms,” said Daniel Schwamb, executive vice president of business development at Kestra Financial. “WEFS and Kestra Financial share a joint ethos of teamwork and collaboration, making Eric and his team a perfect fit within our premier community of independent financial professionals.”
Over the summer, Kestra announced the onboarding of Lodi Wealth Advisors wealth management firm based in Westchester County, N.Y., with more than $400 million in AUM. Last month, AltsWire reported that Kestra had expanded its strategic partnership with global fintech platform iCapital to enable more access to alternative investment offerings and related resources.
Kestra Financial is an Austin, Texas-based independent broker-dealer that oversees $103 billion in assets under advisement and supports over 1,700 independent financial professionals. Established in 1997, the firm empowers independent financial professionals and wealth management firms – including traditional and hybrid registered investment advisers – by offering personalized support, integrated business management technology, and access to a collaborative community of like-minded financial professionals.
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