Kestra Financial, Inc
A subsidiary of Kestra Holdings
Clearing firm: National Financial Services LLC
No. advisers: 1,741
AUM: $88,087,505,755
Year founded: 1996
Year end: Dec. 31
No. of retail offices: 591
For More Information
| CEO | James L. Poer, James Poer, James Poer | |
| Top Executive | Stephen Langlois | |
| Recruiting Contact | Daniel Schwamb (737) 443-2400 | |
| Compliance Contact | Mike Pedlow (737) 443-2800 | |
| Marketing Contact | Amy Gordona (737) 443-2042 | |
| Technology Operations Contact | Nick Harness (737) 443-2200 | |
Company Overview
Kestra Financial leads the industry in wealth management, service and technology solutions, and practice enrichment. Our independent RIA and broker/dealer services are powered by over 20 years of industry experience and are taking flight to elevate the level of personalized service you deserve. Kestra Financial gives our independent financial advisors unmatched opportunities to grow their business. When you partner with us, you are investing in a partnership that enables you to see your entire practice more clearly.
Additional Resources
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| No. of reps | 1,736 | 1,741 | 1,943 |
| No. of reps, male | 1,323 | 1,336 | 1,497 |
| No. of reps, female | 413 | 405 | 446 |
| No. of producing reps | 1,345 | 1,343 | 1,335 |
| No. of producing reps, male | 1,155 | 1,165 | 1,195 |
| No. of producing reps, female | 190 | 178 | 140 |
| No. of reps producing $100K-$499K /year | 484 | 470 | 493 |
| No. of reps producing $500K+ /year | 309 | 278 | 283 |
| No. of CFPs | 310 | 315 | 308 |
| No. of full-time employees | 267 | 262 | 243 |
| No. of fee-based advisers served | 1,148 | 1,355 | 1,337 |
| Average payout per rep, per year | $482,535 | $317,775 | $312,543 |
| Avg. annual production of top 20% reps | $1,305,468 | $1,241,904 | $1,112,118 |
| Total payout, per year | $449,471,318 | $426,771,739 | $417,245,195 |
| Cost of E&O insurance per rep, per year | $3650 | $3650 | $3650 |
| Affiliation fees charged per rep, per year | Varies | Varies | Varies |
| Affiliation fee coverage | Varies | Varies | Varies |
| $0-$249,999 | $250K-$499,999 | $500K-$749,999 | $750K-$999,999 | $1,000,000+ | |
|---|---|---|---|---|---|
| Mutual funds | 65% - 85% | 88% - 91% | 92% | 93% | 93% |
| Insurance | 65% - 100% | 88% - 100% | 92% - 100% | 93% - 100% | 93% -100% |
| Variable annuities | 65% - 88% | 88% - 91% | 92% | 93% | 93% - 95% |
| Limited parterships | 65% - 88% | 88% - 91% | 92% | 93% | 93% - 95% |
| Securities | 65% - 88% | 88% - 91% | 92% | 93% | 93% - 95% |
| Required minimum production | $200,000 | ||||
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total revenues | $607,872,562 | $570,683,514 | $549,198,316 |
| Commission revenues | $197,444,497 | $198,309,326 | $195,629,670 |
| Securities revenues | $11,462,102 | $8,124,472 | $8,069,577 |
| Securities revenues: Stocks | $5,730,423 | $3,879,945 | $3,613,933 |
| Securities revenues: Bonds | $1,689,459 | $1,632,938 | $1,825,133 |
| Securities revenues: ETFs | $2,413,631 | $1,269,908 | $1,440,461 |
| Securities revenues: Other | $1,628,589 | $1,341,681 | $1,190,049 |
| Mutual fund revenues | $45,981,894 | $46,487,819 | $48,533,939 |
| Annuities revenues | $99,885,362 | $103,340,586 | $101,666,212 |
| Annuities revenues: Fixed | $6,667,188 | $10,132,238 | $7,484,276 |
| Annuities revenues: Variable | $93,218,174 | $93,208,348 | $94,181,936 |
| Annuities revenues: Other | 0 | 0 | 0 |
| Insurance revenue | $36,839,446 | $37,432,078 | $37,464,061 |
| Insurance revenues: Life | $36,839,446 | $37,432,078 | $37,464,061 |
| Insurance revenues: Disabilities | — | — | 0 |
| Insurance revenues: LTC | — | — | 0 |
| Insurance revenues: Other | — | — | 0 |
| Alternative revenues | $3,275,693 | $2,924,371 | $3,119,376 |
| Alternative revenues: Hedge funds | $624,552 | $557,569 | $594,749 |
| Alternative revenues: Managed futures | $198,132 | $176,883 | $188,677 |
| Alternative revenues: Private placements | $22,874 | $20,420 | $21,782 |
| Alternative revenues: REITs | $2,083,322 | $1,859,883 | $1,983,905 |
| Alternative revenues: Other | $346,813 | $309,616 | $330,263 |
| Other commission revenues | 0 | 0 | 0 |
| Fee revenues | $364,302,186 | $319,154,415 | $303,041,167 |
| Fee revenues: Rep-managed accounts | $222,530,350 | $194,372,060 | $184,583,614 |
| Fee revenues: Firm-managed accounts | $14,906,337 | $13,020,136 | $12,364,450 |
| Fee revenues: Outside-managed accounts | $103,742,751 | $90,615,470 | $86,052,136 |
| Fee revenues: Other | $23,122,748 | $21,146,749 | $20,040,967 |
| Total revenues: Other | $46,125,879 | $53,219,773 | $47,303,985 |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total account assets | $95,686,124,447 | $88,087,505,755 | $77,348,772,049 |
| Fee-based assets | $41,123,107,144 | $34,392,835,204 | $24,599,096,160 |
| Fee-based assets: Clearing firm | $32,607,450,730 | $24,726,917,262 | $16,613,596,938 |
| Fee-based assets: Advisory firm platforms | $1,135,551,346 | $1,004,218,151 | $898,753,464 |
| Fee-based assets: Third-party money managers | $7,380,105,068 | $8,661,699,791 | $7,086,745,758 |
| Fee-based assets: Other | 0 | 0 | 0 |
| Total account assets: Other | $54,563,017,303 | $53,694,670,551 | $52,749,675,889 |
| Average assets per rep | $55,118,735 | $50,595,925 | $39,808,941 |
- Notes
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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