Kestra to Buy H. Beck, Add 600 Reps & Launch Robo
August 8, 2017 By Janet Levaux, ThinkAdvisor CEO Poer says seller Securian is not exiting the broker-dealer business, will keep ownership of another BD Independent advisor platform Kestra Financial says it is buying H. Beck, from Securian Financial Group. The groups work, respectively, with about 1,700 and 600 advisors. “The announced transaction puts us over the 2,000 mark in the aggregate,” said Kestra CEO James Poer in an interview. In terms of assets under management at its RIAs, Kestra has $21 billion, while H. Beck has about $2.5 billion. (These figures do not include assets under administration.) “We approached Securian about the organization, and they liked our ideas …,” Poer explained. “We explained that we could provide a great home to and a bright future for H. Beck.” The group, which serves about 1,700 reps, is set...