Kestra Financial may be on the market for prospective bidders again — just 2 1/2 years after private equity firm Stone Point Capital purchased the independent broker-dealer.
Stone Point retained the same team from Goldman Sachs that advised Cetera Financial Group in
Neither Stone Point nor Kestra, which has 2,300 advisors across the firm and its subsidiaries H. Beck and Kestra Private Wealth Services, have confirmed it.
Recently, CEO James Poer invited Financial Planning to tour Kestra’s home office in Austin, Texas, where he
“A good private equity firm should want return on their investment,” Poer said last month. “That doesn’t really change anything for the advisors that are served. It’s capital structure, that’s it.”
Representatives for Goldman declined to comment, while representatives for Kestra and Stone Point did not immediately return requests for comment.
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Kestra may not demand a price as high as the reported tag for Cetera, but similarly-sized firms have commanded
“Our business model is designed to team up with experienced management teams poised for even greater success, and Kestra is no exception,” Stone Point CEO Chuck Davis
Kestra and Kestra PWS generated $475.4 million in revenue last year, a 12% rise from 2016, according to the firm’s responses in the annual
