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.
Meanwhile, Carson Group extends its acquisition strategy with a Maryland-based advisory practice.
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