Kestra To Be Put Up For Sale-Austin, Texas

December 2018- Austin, Texas

The Investment News reports that broker dealer Kestra is being put up for sale. Goldman Sachs has been hired as its investment banker to head up the sales effort.

Formerly known as NFP Advisors, after its sale to Stone Point Capital in 2016, the name of the broker dealer was changed to Kestra.

According to their website, Austin-based Kestra ranked as the 9th largest independent broker-dealer based on gross revenue, reported to be $475 million at the end of 2017 with nearly 1,900 registered representatives and advisers. Kestra reported nearly $76 billion in assets under advisement.

Kestra’s FINRA record disclose 11 prior regulatory events, including a $475,000 fine by FINRA in 2016 for supervisory failures related to the sale of variable annuities.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

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