AUSTIN, Texas--(BUSINESS WIRE)--Kestra Financial, Inc. (Kestra Financial), an industry-leading independent advisor platform, today announced the acquisition of Rinvelt & David, LLC (Rinvelt & David), a personal wealth management firm.
Based in Grand Rapids, Mich., Rinvelt & David, LLC was founded by Robert M. Rinvelt and Roger J. David. Collectively, the team has over 50 years of experience providing comprehensive financial planning services to individuals and businesses, including tax, retirement, and estate planning as well as investment and risk management advice. The team currently manages approximately $275 million in assets.
“This partnership with Kestra Financial solidifies our commitment to providing superior service to our clients and the community while allowing us to maintain our independence in management and product selection. We are excited to remain personally involved in the day-to-day operations of our firm, as well as to continue to help our clients reach their financial goals,” Rinvelt said. “Not only will our clients continue to benefit from access to Kestra Financial’s technology, support, and services, but our foundational values, vision, and business policies will remain as they have for the last 30 years. This new chapter offers us the additional tools and resources needed to build a lasting legacy for our firm and the clients we serve.”
The acquisition is emblematic of Kestra Financial’s mission to empower financial professionals to grow and provide superior client service.
“As we continue to grow our independent advisor platform, we know that Rob, Roger, and their team have the experience, client-centric vision, and high standards that align with our own. This partnership is representative of our best-in-class advisor solutions and the advanced resources that Kestra offers its advisors,” said James Poer, President and CEO of Kestra Financial. “Kestra Financial is a motivated buyer of businesses led by sophisticated advisors who have a proven track record of delivering effective financial advice, tenets we found in Rinvelt & David, LLC.”
“Kestra Financial has the scale, next-generation technology, and operational efficiencies we need to deliver the utmost level of service to our clients,” David said. “We made the decision to partner with Kestra Financial because we know it will allow us to better serve our clients for years to come.”
About Kestra Financial
Kestra Financial, Inc. (Kestra Financial) provides a leading independent advisor platform that empowers sophisticated, independent financial professionals, including traditional and hybrid RIAs, to prosper, grow, and provide superior client service. With a culture rich in reinvention and advisor advocacy, Kestra Financial has developed integrated business management technology that, combined with its personalized consulting services, offers exceptional scale and efficiency.
Headquartered in the “Silicon Hills” of Austin, Texas, Kestra Financial offers an experience as unique as the city in which it operates. The firm supports more than 1,700 independent financial advisors in delivering comprehensive securities and investment advisory services to their clients. Kestra Financial is the parent company of Kestra Investment Services, LLC, member FINRA/SIPC, and also of Kestra Advisory Services, LLC; Kestra Private Wealth Services, LLC; and Kestra Institutional Services, LLC, all federally registered investment advisers. For more information about Kestra Financial, please visit www.kestrafinancial.com.
Securities offered through Kestra Investment Services, LLC, member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC.
