Combined firm principals will manage nearly $500 million in assets
Kestra Private Wealth Services, LLC (Kestra PWS), a registered investment advisor subsidiary of Kestra Financial, Inc., has announced two of its affiliated firms have joined forces to expand their practices and client services. As of July 1, 2020, PSM Private Wealth Management merged with, and began operating under the name, California Wealth Transitions.
"This merger represents an exciting opportunity to strengthen our service offering, while at the same time growing the team to meet the ever-expanding needs of our client base," said Keith Brandt, President of California Wealth Transitions. "We have long known the principals of PSM Private Wealth Management, all top-tier professionals in their own right, and knew the cultural fit would be perfect. Their planning-based focus meshes neatly with ours, and the two firms have a lot of experience to offer both new and existing clients."
Combined, the principals of the new entity —Keith and Nicki Brandt, Janet Pearce, Bradley Saunders, and Krista Murray — have over 150 years of experience in financial services.
"We are very excited to be working with Keith, Nicki, and the rest of the team to bring our best expertise and resources to our collective group of clients," noted Saunders, CEO of PSM Private Wealth Management.
The team of eight total advisors boasts an impressive array of credentials, including Certified Financial Planner (CFP®), Certified Divorce Financial Analyst (CDFA®), Certified Investment Management Analyst (CIMA®), and several other industry-recognized designations, demonstrating a breadth of investment knowledge and expertise used in the daily management of assets and delivery of client advice.
With the merger, leadership has a keen eye on growth. Blake Murphy recently joined as Vice President, Financial Advisor in San Diego, and David Brandt joined as Vice President, Financial Advisor at the firm’s new office in Brea, California. "As this deal came together, we recognized the opportunity to build a firm that will live well past its founders and serve current and future clients for many years to come. Blake and David are seasoned professionals who represent the next generation of California Wealth Transitions’ advice and service. We are excited to grow and nurture our firm in this careful and deliberate way, in line with our own terms and principles, as independent advisors to our clients," Keith Brandt said.
The addition of the Brea office positions California Wealth Transitions’ San Diego team in greater proximity to many of their long-time clients in the Orange County and Los Angeles County areas. Together, the combined firm will be working with clients nationally but will have a particular focus locally in San Diego, Brea, Newport Beach, Ontario, Claremont, Laverne, Upland, and Rancho Cucamonga.
"These are two of our best and most experienced firms," said Rob Bartenstein, CEO and Senior Managing Director of Kestra PWS. "To see them come together is a continuation of the promise we made at the start of our partnership, which is ‘you are never alone with Kestra PWS.’ We are proud of the work each firm represents and have been honored to advise on, but not dictate, the terms under which this deal got done. Our mutual trust, at the firm level and with Kestra PWS leadership, allowed us to be helpful to the two ownership groups and assisted getting this over the finish line."
About Kestra Private Wealth Services
Kestra Private Wealth Services, LLC (Kestra PWS) is a hybrid registered investment adviser (RIA) supporting fee and transaction-based independent financial advisor teams across the nation. Kestra PWS was established by wirehouse veterans with the express purpose of enabling former wirehouse financial professionals to achieve independence and growth. The firm's platform is comprised of an independent RIA in association with Kestra Investment Services, LLC as broker-dealer in order to provide wealth management firms with an open architecture platform and independence across both fee and transaction-based business models. Kestra PWS has helped 28 single- and multi-team offices across the country find independence with their full service support model.
For more information, visit www.kestrafinancial.com/private-wealth-services.
Kestra Financial, Inc. offers industry-leading wealth management platforms for independent wealth management professionals nationwide. With an innovative culture that celebrates independence, the company seeks to redefine the future of the advisory industry through superior service, cutting-edge technology, and preeminent resources that every financial professional needs to succeed in the market now and in the years to come.
Kestra Financial, Inc. 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.
The professionals at California Wealth Transitions and PSM Private Wealth Management offer securities through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Private Wealth Services, LLC (Kestra PWS). California Wealth Transitions and PSM Private Wealth Management are member firms of Kestra PWS, an affiliate of Kestra IS. California Wealth Transitions and PSM Private Wealth Management are not affiliated with Kestra IS.
For more information, visit www.kestrafinancial.com.
Gregory FCA for Kestra Financial, Inc.
Jen Diehl, 610-228-2124