Kestra PWS Takes $650 Million Team From Morgan Stanley

Michael Madden, Contributing Editor & Research Analyst, Wealth Solutions Report

Pennsylvania And Ohio Team Providing Holistic Services To Families Joins Kestra

Austin, Texas-based Kestra Private Wealth Services added Pittsburgh, Pennsylvania-based Kindred Wealth Partners, with $650 million in client assets. Senior Managing Partners Charles Palmer, Sean O’Riordan and Randall Klaiber lead the firm, supported by team members Gail Woodward and Nick Riotto. Kindred serves families with financial, tax and estate planning, and also has an office in Columbus, Ohio.

The Kindred team said, “With the support of Kestra PWS, we can expand our team with top-tier talent, deepen new and existing relationships, and serve clients in ways we were not able to previously. Premier resources paired with direct access to a highly engaged, dedicated executive team and a vibrant, family-like culture made the transition feel like the natural, next step for our business and clients.”

The Kindred Wealth Partners team

Moving from Morgan Stanley, the Kindred Senior Managing Partners plan expansion over the next several years utilizing Kestra PWS’ resources. The team chose the name “kindred” to emphasize relationships with families and clients that share similar values.

Rob Bartenstein, CEO of Kestra PWS, said, “As is our tradition, we spent a lot of time getting to know our new partners prior to their affiliation. In this case, we even went on a fishing trip together. When spending that kind of quality time together, it’s evident when there’s a right fit – and everyone knew this was a very right fit.”

Rob Bartenstein, CEO, Kestra Private Wealth Services

“Chuck, Sean, and Randy’s client-first business model, firm goals, and entrepreneurial spirit fit seamlessly within the environment we’ve carefully cultivated at Kestra PWS,” Bartenstein continued. “It’s our mission to empower financial professional teams like Kindred Wealth with new avenues to serve their clients and accelerate their business into the next phase of growth, and we look forward to welcoming them into our community of like-minded entrepreneurs.”

Kestra PWS is a hybrid RIA subsidiary of Kestra Financial that supports independent advisory and professional teams with an independent RIA and affiliated broker-dealer. In October, Kestra PWS onboarded Bob McCullough, in partnership with Inspired Wealth Planning. In September, Kestra Financial added $1.7 billion Symonds Wealth Management to its network and its subsidiary Bluespring Wealth Partners acquired $700 million Christopher Street Financial.

Michael Madden, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at mmadden@wealthsolutionsreport.com.

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