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.
Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.
Orion adds new model portfolios and SMAs under expanded JPMorgan tie-up, while eMoney boosts its planning software capabilities.
National survey of workers exposes widespread retirement planning challenges for Gen Z, Millennials, Gen X, and Boomers.
While the choice for advisors to "die at their desks" might been wise once upon a time, higher acquisition multiples and innovations in deal structures have created more immediate M&A opportunities.
A father-son pair has joined the firm's independent arm in Utah, while a quartet of planning advisors strengthen its employee channel in Louisiana.
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.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
