Kestra Financial, a Texas-based independent advisor platform, has taken over Rinvelt & David, a personal wealth management firm based in Michigan. The financial terms of the deal were not disclosed.
Rinvelt & David was set up by Robert Rinvelt and Roger David, and presently oversees assets worth around $275m. The firm offers tax, retirement, and estate planning, investment and risk management advice for individuals and businesses.
“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,” Rinvelt said.
Kestra Financial president and CEO James Poer said: “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.”