Kestra Private Wealth Services, LLC
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Learn more about Kestra Private Wealth Services, LLC
Kestra Private Wealth Services, LLC is a financial advisor company headquartered in Austin, Texas. Kestra Private Wealth Services, LLC manages $4.5 billion in assets across 14,374 customer accounts, making it one of the largest financial advisory firms in the country by assets under management (AUM). The company has a large group, including 119 financial advisors. Kestra Private Wealth Services, LLC is not a registered broker-dealer, signifying that the firm cannot buy and sell securities for its accounts and those of its customers and instead is required to go through a broker-dealer company to do so. Securities are defined as exchangable financial assets like stocks, options and bonds.
Kestra Private Wealth Services, LLC oversees the majority of its accounts in a discretionary manner. Discretionary management means that a portfolio manager has the discretion to make buy and sell judgments for the client's account without requiring client consent. Kestra Private Wealth Services, LLC also manages 63 non-discretionary accounts with a total of $12.8 million in AUM. Kestra Private Wealth Services, LLC administers about $311,675 for each customer account. The typical financial advisor at Kestra Private Wealth Services, LLC manages around 121 client accounts.
The company's main office is at 5707 Southwest Parkway, Austin, Texas 78735. The company is legally allowed to provide services to customers across 51 U.S. states and territories.
Assets Under Management
Number of Advisors
Kestra Private Wealth Services, LLC by the Numbers
Products and Services
Kestra Private Wealth Services, LLC provides 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 prior fiscal year, the firm provided financial planning services to 26-50 of its accounts. The firm is not involved in selling products or offering services apart from investment advice to its investment advisory accounts. The firm is also 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.
Financial management fees usually are based on the financial services provided. However, fee types charged by the company likely consist of some blend of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are offered by Kestra Private Wealth Services, LLC.
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 works with a broad range of customers. Kestra Private Wealth Services, LLC works with retail investors, high net worth investors, banking institutions, pension plans, charitable organizations, insurance companies and corporations. Out of its 14,374 accounts, Kestra Private Wealth Services, LLC's biggest client type is retail investors, but it also caters to 2,061 high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 under management or a net worth of more than $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's clients reside abroad.
- High-Net-Worth Individuals* - 23.41%
- Other Individuals - 75.42%
- Corporations - 1%
- Charitable Organizations - 0.17%
* 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 Private Wealth Services, LLC does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Kestra Private Wealth Services, LLC
San Diego, CA
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