Kestra Financial has expanded its wealth footprint yet again as it welcomes a five-member team in the Northeast.
On Thursday, the wealth platform announced that SZC Financial Planning & Management has joined its network. Based in Montgomery County, Maryland, SZC Financial oversees $200 million in assets under management and is known for its personalized, high-touch client services.
Led by founding partners David Shober and Steve Collins, SZC Financial provides a range of financial planning and advisory services. The firm’s five-person team emphasizes a tailored approach, working closely with clients to help them achieve their financial, business, and life objectives.
By integrating with Kestra Financial, SZC Financial plans to maintain its client-focused strategy while exploring new growth opportunities.
"The personalized support and comprehensive offerings that the Kestra Financial ecosystem provides – while allowing us to maintain our autonomy – is exactly what we’re looking for in a partner firm,” Shober said in a statement.
His BrokerCheck profile shows a 21-year record in the industry, most recently including a brief months-long affiliation with Osaic Wealth starting in January. Prior to that, he'd been registered under Woodbury Financial Services – which was integrated into Osaic at the start of 2024 – for seven years
Shober highlighted his firm's newfound autonomy under Kestra, calling the ability to choose how to operate "refreshing."
“We’re excited to join a firm that aligns with our unique approach to delivering high-caliber service,” he said of his firm's new partnership with Kestra.
Earlier on Tuesday, the Austin, Texas-based wealth platform announced its addition of a $225 million boutique advisory firm from the greater New York area.
In 2024, Kestra continued to attract significant advisory teams, including a $500 million Merrill Lynch team that joined its hybrid RIA subsidiary in June, and a $600 million multigenerational high-net-worth practice from the Big Apple.
Kestra Financial saw record growth in 2023, adding 110 new advisors managing a combined $9.5 billion in assets to its platform.
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.
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.
"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.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
