Transamerica loses $1 billion team to Kestra Financial

Wiser Financial Group joins broker-dealer formerly known as NFP Advisor Services.
APR 04, 2016
A team of advisers with nearly $1 billion in client assets has left Transamerica Financial Advisors Inc. to join Kestra Financial Inc. The Wiser Financial Group, based in Kalamazoo, Mich., specializes in retirement, wealth management, risk management and estate planning services. Kestra Financial, formerly known as NFP Advisor Services, is a broker-dealer and registered independent adviser based in Austin, Texas, supporting over 1,700 independent financial advisers. “We are excited about the future of the partnership,” said Dan Schwamb, senior vice president of business development at Kestra Financial. “They have a terrific presence in Michigan, and we are looking forward to supporting them with industry leading tools and services to take their practice to the next level.” The team of advisers, which moved to Kestra in late spring, includes Wesley Lentz, Clinton VanLinder, Robert Amberg Jr. and Robert Campbell. Transamerica could not be reached for comment.

Latest News

Annuities for RIAs: Why fee-only advisors still hit a wall
Annuities for RIAs: Why fee-only advisors still hit a wall

Halbert Hargrove senior wealth advisor weighs in on the products' guaranteed income upside, the operational drag and his wish list for carriers.

Broker-dealers must lean on tech, brand as advisors weigh options
Broker-dealers must lean on tech, brand as advisors weigh options

With 8.6% of advisors set to switch firms in 2026, Cerulli says advisor recruitment hinges on technology, branding and HNW support.

Advisor vs. advisor, Seattle showdown in fight for clients
Advisor vs. advisor, Seattle showdown in fight for clients

“I’m seeing more disputes like this between advisors and other advisors at the same practice,” said one industry executive.

Great Wealth Transfer might give way to a 'mirage,' Dunham research warns
Great Wealth Transfer might give way to a 'mirage,' Dunham research warns

Longer retirements and steady inflation could drain retiree portfolios before heirs inherit, with 4% net returns running dry by year 34.

Investors sue Coastal Financial after one fintech partner erases $470M
Investors sue Coastal Financial after one fintech partner erases $470M

A single fintech partner triggered a $68.8M credit hit.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains