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Kestra Nabs $118M Colorado Wealth Management Practice

By Alex Padalka September 20, 2018

A Colorado-based financial advice practice managing $118 million has chosen to affiliate with Kestra Financial as its independent advisor platform, according to a press release from Kestra.

Lakewood, Colo.-based Personal Benefit Financial, formerly associated with Royal Alliance, was founded 45 years ago by L. Ronald Blair and is now owned by Sharla Rountree, Kestra says.

“We wanted to align with a firm that provides high-touch service, streamlined operations, and a partnership approach to compliance,” Rountree says in the press release. “That search led us to Kestra Financial, which offers all the qualities we sought. Their support of women advisors and home office leaders was also crucial to our decision.”

Personal Benefit is the 27th firm to come onto Kestra’s platform so far this year, Kestra says. In May, Kestra picked up a team of Wells Fargo Advisors representatives managing $300 million, and in February Kestra nabbed advisors from DA Davidson and Raymond James.

But last month, a $312 million practice affiliated with Kestra left for Woodbury Financial Services.

And In June, Kestra lost a $130 million practice to Commonwealth Financial Network.