Kestra Financial has agreed to snap up independent financial adviser platform H. Beck (HBI) from Securian Financial Group.

Maryland-based HBI has 540 offices across the US and offers broker-dealer and RIA services to over 600 representatives.

HBI will continue to operate as a standalone entity following the acquisition, and will retain its Maryland base, operational autonomy and brand.  The firm will continue to be managed by its existing executive team.

The companies did not disclose the financial terms of the transaction, which is expected to be completed before the end of 2017.

Kestra Financial CEO James Poer said: “This acquisition represents our continued commitment to intentional growth through both organic initiatives and acquisitions.

“We have a history of making thoughtful acquisitions that align with our values and business strategies, and we believe that the H. Beck advisor force and the clients they serve will benefit from the transaction.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.