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.
The well-attended Blue Vault session at the recent National Planning Holdings National Conference was very well received. The value of their products was evidenced by the volume of questions from the attendees. Stacy Chitty, Managing Partner, did an excellent job of explaining the history, strategy and value of Blue Vault data.