Kestra extends platform with $225M AUM HNW firm

Kestra Financial has broadened its presence further in New York as it welcomes an independent advisor duo.

The firm said Tuesday that it has added Erudite Wealth Management, a boutique advisory firm based in the greater New York area, to its platform.

Erudite, a firm specializing in high-net-worth clientele, manages $225 million in assets and provides tailored financial solutions, including bespoke portfolios and family office services. The two-person team focuses on a proactive approach, emphasizing white-glove, personalized service for its more than 140 clients.

By joining Kestra, the firm aims to expand its offerings while maintaining its commitment to individualized attention, as well as advance its continuing vision of becoming a legacy firm.

David Weinstock, president and founder of Erudite Wealth Management, expressed enthusiasm for Kestra Financial's "depth of industry expertise, personalized support, and robust offerings. 

“As an organization committed to providing tailored service to our clients, we’re thrilled to join a firm that supports our approach to delivering excellence,” Weinstock, a veteran with more than three decades of industry experience, said in a statement.

Kestra Financial has been very active in 2024, landing several key 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 in New York City. 

In 2023 alone, Kestra experienced a record-breaking year of growth as it added 110 new advisors managing a total of $9.5 billion in assets​ to its platform.