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Fort Worth-based Symonds Wealth Management has joined Kestra Financial, an industry-leading independent wealth management platform.
Kestra Financial, based in Austin, announced the deal on Tuesday.
Symonds, led by Dax Symonds, focuses on managing large corporate retirement plans for large organizations and fostering relationships with executives and employees of those companies.
The firm oversees $1.7 billion in assets, according to a press release. Symonds brings to Kestra a team of five producers and six operations personnel.
“Because we’re entrepreneurial in nature, we sought a partner aligned with our cultural values and business aspirations that would dedicate resources to supporting us as our firm scales,” said Dax Symonds in a statement. “We found a trusted partner in Kestra Financial, as they can deliver on our technology needs and provide consulting support that will round out our ensemble practice.
“Financial strength and stability were also criteria we evaluated when considering prospective partners, and Kestra's private ownership, strong foundation, and solid financial footing gave us the confidence to move forward.”
Kestra Financial, a division of Kestra Holdings and established in 1997, oversees $103 billion in assets under advisement. The company supports more than 1,700 independent financial professionals.
“We’re dedicated to equipping financial professionals with the resources, tools, and support they need to empower their growth to new heights,” said Daniel Schwamb, Kestra Financial executive vice president of Business Development. “Dax and his team bring a practice with a strong foundation that aligns with our values. We’re eager to partner with them and excited to help the business scale so they can focus on what they do best — helping clients reach their long-term financial goals.”