Kestra Advisory Services, LLC
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Learn more about Kestra Advisory Services, LLC
Kestra Advisory Services, LLC operates as a financial advisor firm that has its headquarters in Austin, Texas. It oversees $41.8 billion in total assets throughout 140,407 customer accounts, making it one of the largest investment advisory firms in the nation by assets under management (AUM). The company has a very large team, including 1,311 financial advisors. Kestra Advisory Services, LLC does not act as a registered broker-dealer, signifying that the firm is not able to buy and sell securities for its own accounts as well as its customers' and instead must go through a broker-dealer company to do so. Securities are defined as exchangable fiscal investments like bonds, equities and options.
Kestra Advisory Services, LLC oversees the majority of the company's accounts in a discretionary manner. Discretionary management signifies that buy and sell decisions for the client's account are made by a portfolio manager without needing to seek client approval. Kestra Advisory Services, LLC also administers 55,272 non-discretionary accounts with a total of $13.3 billion in assets under management. The firm's typical account size is $297,671. An average advisor at Kestra Advisory Services, LLC administers about 107 client accounts.
The company's headquarters is located at 5707 Southwest Parkway, Austin, Texas 78735. It is allowed to serve customers throughout 51 U.S. states and territories.
Assets Under Management
Number of Advisors
Kestra Advisory Services, LLC by the Numbers
Products and Services
Kestra Advisory Services, LLC offers a variety of financial services, which can include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services and selection of other advisers. In the past financial year, the firm provided 1000 of its customers with financial planning services. The company does not sell products or offer services apart from investment advice to its investment advisory clients. It is affiliated with one or more other service providers in the financial services industry, including with a broker-dealer or securities dealer, trust company and insurance company or agency.
Core Advisor Services
Offered by 31% of firms
Financial Planning Services
This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.
Offered by 46% of firms
This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.
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Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
Offered by 20% of firms
Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
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Publication of Periodicals
This is the publication of various financial education materials.
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This is the hosting of seminars or workshops to educate investors on financial concepts.
Fees for financial advisory services largely depend on which services the firm provides the client. Fee types charged by Kestra Advisory Services, LLC can be comprised of any combination of the following fee structures: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are provided by the company.
Offered by 69% of firms
Percentage of AssetsShow Explanation
This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.
Offered by 21% of firms
Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.
Offered by 32% of firms
Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.
Find one of the 1% of firms that offer this fee type
Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.
Find one of the 26% of firms that offer this fee type
Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.
Find one of the 0% of firms that offer this fee type
Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.
Find one of the 10% of firms that offer this fee type
Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.
Types of Clients
The company manages money for a broad range of customers. The firm provides services to retail investors, high net worth investors, pension plans, charitable organizations, insurance companies and corporations. Out of its 140,407 clients, Kestra Advisory Services, LLC's biggest client group is retail investors, though it also caters to 14,487 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's customers are from outside of the U.S.
- High-Net-Worth Individuals* - 16.71%
- Other Individuals - 82.04%
- Corporations - 1.09%
- Charitable Organizations - 0.15%
* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.
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Kestra Advisory Services, LLC does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Kestra Advisory Services, LLC
Saint Augustine, FL
Grand Rapids, MI
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