AUSTIN, Texas – August 8, 2017 – Independent advisor platform Kestra Financial, Inc. (Kestra Financial) today announced it has agreed to acquire H. Beck, Inc. (HBI), a national independent financial advisor platform, from Securian Financial Group, Inc.
HBI, which has been owned by Securian for the past nine years, will remain an autonomously operated RIA and broker-dealer servicing the independent advisor community. HBI will not be absorbed into Kestra Financial, and the firm will be managed by its own dedicated executive team.
“We look forward to partnering with the HBI leadership team to create
the next chapter of success for the quality advisors they serve. Their commitment to culture combined with our technology and service expertise will empower the organization to enhance its service and value proposition,” James Poer, CEO of Kestra Financial, said. “This acquisition represents our continued commitment to intentional growth through both organic initiatives and acquisitions. We have a history of making thoughtful acquisitions that align with our values and business strategies, and we believe that the H. Beck advisor force and the clients they serve will benefit from the transaction.”
HBI’s home office and advisor services will remain intact, and the company will retain its own brand, operational autonomy, and headquarters in Maryland. Investments will be made to further optimize the technology solutions and operations of HBI.
“The Kestra Financial management team has a proven track record of fostering an environment where advisors are equipped to grow their practices,” George Connolly, senior vice president in charge of Wealth Management at Securian Financial Group, said. “We’ve entrusted this business to Kestra Financial with the intention to increase our focus on our other businesses, including Securian Financial Services, and the expectation that Kestra Financial will be a good steward for the 600 plus advisors affiliated with HBI.”
The acquisition is expected to close before the end of the year.
About Kestra Financial
Kestra Financial, Inc. (Kestra Financial) provides a leading independent advisor platform that empowers sophisticated independent financial professionals, including traditional and hybrid RIAs, to prosper, grow, and provide superior client service. With a culture rich in reinvention and advisor advocacy, Kestra Financial has developed integrated business management technology that, combined with its personalized consulting services, offers exceptional scale and efficiency.
Headquartered in the “Silicon Hills” of Austin, Texas, Kestra Financial offers an experience as unique as the city in which it operates. The firm supports more than 1,700 independent financial advisors in delivering comprehensive securities and investment advisory services to their clients. Kestra Financial is the parent company of Kestra Investment Services, LLC, member FINRA/SIPC, and also of Kestra Advisory Services, LLC; Kestra Private Wealth Services, LLC; and Kestra Institutional Services, LLC, all federally registered investment advisors. For more information about Kestra Financial, please visit www.kestrafinancial.com.
Securities offered through Kestra Investment Services, LLC, member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC.
About H. Beck, Inc.
H. Beck, Inc. was incorporated in 1984 and operates out of its headquarters in Maryland. The firm provides broker-dealer and RIA services to more than 600 registered representatives in 540 offices across the U.S. H. Beck is guided by a mission of delivering service excellence in a culture based on relationships, where all advisors and home office associates thrive.
Contact: Gregory FCA for Kestra Financial and H. Beck
Joseph Anthony, 610-228-2095
About Securian Financial Group
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals andbusinesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, Securian is the holding company parent of a group of companies that offer a broad range of financial services.
Contact: Securian Financial Group
Jeff Bakken, Media Relations