News Archives

  • Kestra Financial Announces Acquisition of H. Beck, Inc. From Securian Financial Group

    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
    kestra@gregoryfca.com

    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
    651-665-7558
    jeff.bakken@securian.com

  • Kestra Financial Appoints New President of H. Beck, Inc.

    Michelle Barry will begin role as H. Beck’s new President in January
    AUSTIN, Texas – December 18, 2017 – Industry-leading independent advisor platform Kestra Financial, Inc. (Kestra Financial) has appointed Michelle Barry as the new President of H. Beck, Inc.

    Kestra Financial closed its acquisition of national independent financial advisor platform H. Beck in December 2017.

    Barry brings more than 20 years of leadership experience in the financial services industry, most recently as the President and CEO of Hornor, Townsend & Kent (HTK), a full-service broker-dealer and subsidiary of The Penn Mutual Life Insurance Company. During her tenure at HTK, Barry was responsible for doubling the firm’s revenue, vastly improving advisor retention and overhauling the company’s backoffice technology.

    “Michelle’s executive experience in the broker-dealer/RIA industry, paired with her expertise in advisor technology and practice management, allows her to hit the ground running and to enhance H. Beck’s value proposition,” said James Poer, CEO of Kestra Financial. “She will serve as an invaluable leader as we work to expand and optimize H. Beck’s technology and operational solutions to empower advisor success.”

    As part of the transaction, H. Beck retained its own operational autonomy and branding as a leading broker-dealer and RIA. Scott Thorson, who has been with H. Beck since 2013 and has 30 years of experience in the financial services industry, will continue his role as the Chief Operating Officer.

    “With the backing of an industry leader in advisor technology and practice management solutions like Kestra Financial, H. Beck is well- positioned to create an optimal environment for advisors to grow and flourish in their practices,” said Barry. “I look forward to utilizing my background and experience to empower H. Beck advisors across the country and allow them to deliver top-notch client service and advice.”

    Before HTK, Barry held a variety of positions across the broker-dealer and RIA landscape, including roles at Ameritas Life, The Advisor Group, and Salomon Smith Barney.

    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.

    Kestra Financial and its subsidiaries are not affiliated with any other firms listed in this communication.

    About H. Beck, Inc.

    H. Beck, Inc., member FINRA/SIPC was incorporated in 1984 and operates out of its headquarters in Maryland. The firm provides broker dealer and RIA services to more than 600 financial advisors 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 advisors, clients, and home office associates thrive.

    Contacts

    Gregory FCA for Kestra Financial and H. Beck
    Joseph Anthony, 484.431.4115
    kestra@gregoryfca.com

  • Kestra Financial Closes Acquisition of H. Beck, Inc.

    AUSTIN, Texas--(BUSINESS WIRE)--Industry-leading independent advisor platform, Kestra Financial, Inc. (Kestra Financial), today announced that it has closed its acquisition of H. Beck, Inc. (HBI) from Securian Financial Group, Inc. The change of ownership was effective as of December 1, 2017.

    “The HBI acquisition represents an outstanding opportunity to partner with a firm whose advisor-first mentality, commitment to culture and strong values are squarely in line with our own”

    HBI will retain its own operational autonomy and branding as a top broker-dealer and RIA.

    “The HBI acquisition represents an outstanding opportunity to partner with a firm whose advisor-first mentality, commitment to culture and strong values are squarely in line with our own,” said James Poer, CEO of Kestra Financial. “This acquisition is reflective of our mission to grow the firm and embodies our desire to provide additive benefits for the collective businesses of Kestra Financial and, most importantly, the advisors and clients we serve. Each acquisition has improved the scale of our organization and empowered us to further enhance our value proposition and competitive stance.”

    As part of its first order of business, Kestra Financial plans to expand and optimize HBI’s technology and operational solutions.

    “Kestra Financial’s investment in next-generation technology, combined with our newfound knowledge-sharing capabilities and enhanced business consulting offerings will create the optimal environment for advisors to grow and flourish in their practices,” said Scott Thorson, interim President and Chief Operating Officer of HBI. “The benefits of our partnership with Kestra Financial truly underscore our collective mission to empower advisor success.”

    As part of the transaction, Securian Financial made a minority investment in Kestra Financial.

    More information regarding the acquisition can be found here.

    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 financial advisors 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 advisors, clients, and home office associates thrive.

    About Securian Financial Group

    Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses 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.

    Contacts

    Gregory FCA for Kestra Financial and H. Beck
    Joseph Anthony
    484.431.4115
    kestra@gregoryfca.com

    or

    Securian Financial Group
    Jeff Bakken, Media Relations
    651.665.7558
    jeff.bakken@securian.com

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