Kestra Financial unveils partnership with $600M firm

Kestra Financial unveils partnership with $600M firm
Based in New York, the multigenerational HNW practice expects to build on its meteoric growth record while elevating its service offerings.
MAR 28, 2024

Kestra Financial has just gotten bigger as it partners with a practice in the Big Apple, Borger Financial Services, which brings more than $600 million in client assets under management to its advisory network.

Borger, a multigenerational firm based in New York City, takes a strategic approach to serving high-net-worth individuals and families and has a reported history of consistent double-digit growth.

"In considering a new partnership, we searched for an organization that would foster independence while supporting the needs of a sophisticated high net worth client base,” Debra Clark, principal at Borger and a 33-year veteran of the industry, said in a statement.

“Joining the Kestra Financial platform will allow us to enhance our client offerings while accelerating our firm’s expansion,” Clark said.

In welcoming Borger, Stephen Langlois, president of Kestra Financial, applauded the team's “commitment to excellence and family office client service model.”

Borger anticipates its partnership with Kestra Financial will allow it to elevate its service offerings as it integrates advanced financial planning tools and expanded access to alternative investment options.

“The affiliation greatly expands our clients’ access to alternatives, including private credit and private equity," said Elie Borger, co-principal and managing partner of Borger.

Before coming under the Kestra umbrella, Borger was affiliated with Hornor Townsend & Kent. That firm saw a major departure earlier this month as its largest advisory team broke away to establish their own independent RIA.

Here's why an active overwrite options strategy is perfect for today's market

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.