Kestra Financial acquires 600-rep H. Beck

August 8, 2017 | Bruce Kelly | InvestmentNews.com

The market for independent broker-dealer mergers saw its second sizable deal in as many weeks as Kestra Financial Inc. said Tuesday it had acquired a 600 rep and adviser firm owned by insurance company H. Beck Inc.

Terms of the deal were not disclosed.

Kestra Financial produced $423 million in total revenue last year, while H. Beck produced $119 million in 2015, according to InvestmentNews’ database of independent broker-dealers. H. Beck did not report its total revenue for 2016 to InvestmentNews.

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