A prominent wealth management team specializing in workplace retirement plans, based in Texas, has chosen to partner with Kestra Financial. This partnership brings $1.7 billion in assets under management to Kestra’s platform, solidifying their position as an independent broker-dealer.
Symonds Wealth Management, located in Fort Worth, has made this decision in order to support their continuous growth. They specifically mention the valuable resources that Kestra Financial provides, including business consulting and technology assistance.
“We were seeking a partner that shares our cultural values and can support us as our firm expands,” explains Dax Symonds, the leader of the practice. “Kestra Financial has proven to be a trusted partner, offering the technological capabilities we need along with valuable consulting support.”
While Symonds Wealth Management is not registered as an investment advisor themselves, their lead advisors have been registered with Principal Securities, an investment advisor and broker-dealer based in Des Moines, Iowa.
Moving forward, Symonds Wealth Management will work closely with Kestra’s broker-dealer and corporate RIA. They will operate as independent contractors, maintaining their Symonds branding.
In addition to their work with large businesses’ retirement plans, the Symonds team also provides advisory services to executives and employees within those companies.
The team at Symonds Wealth Management consists of five advisors and six support staff members.
Daniel Schwamb, Kestra Financial’s executive vice president of business development, emphasizes the cultural alignment between the two firms. He believes in Kestra’s role in supporting affiliated advisor practices and helping them grow their businesses.
“Dax and his team have built a strong foundation that aligns perfectly with our values,” says Schwamb. “We are excited to partner with them and support their growth so they can continue to focus on their clients’ long-term financial goals.”