Kestra adds $2.4B in Q1 recruitment assets

Kestra Financial brought in $2.4 billion in client assets during the first quarter of 2025 through the recruitment of 26 financial professionals, marking a strong start to the year for the Austin-based wealth management firm.

The company onboarded 16 advisory firms in total, with new professionals joining either Kestra Financial directly or through its affiliate, Kestra Private Wealth Services. The latter offers a full-service platform tailored to those transitioning from wirehouses or W-2 environments, with support that includes real estate setup, compliance, and technology integration.

“We’re proud to welcome advisors who share our core values: entrepreneurial spirit, collaboration, and a client-first mindset,” John Amore, president of Kestra Financial, said in a Thursday statement announcing the results.

Amore took over the president role at Kestra this month as part of a leadership succession plan previously announced in January. Stephen Langlois, who previously held the role, has stepped back into a senior advisory role to ensure a smooth transition, and will retire at the end of the year.

Among the advisors joining Kestra Financial’s core platform in the first quarter were:

• Brian Menickella of Beacon Financial Services;
• Nickolas Ellis and Jeff Lewis of EAG Private Wealth Management;
• Dennis Fesser of Fesser Financial;
• Scott Fanatico of the Financial Services Center;
• Amy Dunham of Inspired Wealth Planning;
• Tara Carlson of Magnolia Wealth Partners;
• Hugo Marrero of Marrero Wealth;
• Shaun Kimball of Momentum Strategic Wealth;
• Philip Olstein of Olstein Financial Group;
• Rebecca Jones of RLJ Wealth Management;
• Todd Summers of Seasons Wealth;
• Mike McMeans of Silverling Financial; and
• Al Varano and Steve Spong of the Varano Spong Financial Group.

Those who affiliated with Kestra Private Wealth Services included Karl Schwartz of OWL Private Wealth Advisors, Stewart Werner of PlanWell Private Wealth Services, John and Shea Marmion of Turas Wealth Partners – whose shift from UBS was announced earlier this week –  and John Pettis of Undivided Wealth Management.

“As we continue through the year, we look forward to expanding our community of like-minded entrepreneurs who want a partner that’s invested in their success,” Amore said.

Kestra Financial, a division of Kestra Holdings, oversees $142 billion in assets under advisement and works with more than 1,300 financial professionals across the US. Founded in 1997, the firm supports both traditional and hybrid RIAs, aiming to offer scalable infrastructure and a community-based model for growth.

The company said momentum from the first quarter has positioned it well for continued expansion in the second quarter.

In 2023, Kestra Financial welcomed 110 new financial advisors, bringing in approximately $9.5 billion in new assets under management, with notable additions including Symonds Wealth Management, a Texas-based team overseeing $1.7 billion in AUM.

Among last year's recruitment highlights, the firm welcomed a $1.4 billion team from B. Riley Financial as the latter grappled with the fallout of a regulatory investigation into its relationship with Brian Kahn, the former CEO of Franchise Group.

Kestra is among the numerous broker-dealers now scrambling to recruit advisors from Commonwealth after the late March revelation that LPL will be acquiring Commonwealth in a $2.7 billion all-cash deal.