Kestra Private Wealth Services, LLC (Austin)

Name: Kestra Private Wealth Services, LLC
Address: 5707 Southwest Parkway, Austin, TX, 78735
Telephone: 844-553-7872

Kestra Private Wealth Services, LLC is a large advisory firm based in Austin. It manages $1.58 billion of regulatory assets for 5,669 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Alabama, Arizona, California, and 40 other states.

Kestra Private Wealth Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Kestra Private Wealth Services: assets under management

The assets under management (AUM) of Kestra Private Wealth Services, LLC is $1.58 billion. The firm's AUM has grown by 71% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.51 billion in discretionary accounts and $70.85 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $273 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $491.99 thousand.

Kestra Private Wealth Services has custody of $253.48 million in cash and securities for 639 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 48% of the total AUM. The second-largest asset type is exchange traded securities, which make up 32% of the firm’s portfolio. Investments in cash and cash equivalents form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Kestra Private Wealth Services, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Brett Ronald Schneider serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Brett Ronald Schneider is high net worth individuals with 741 clients and $922.86 million of assets under management. Among the 7 most similar advisory firms, Kestra Private Wealth Services has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.58 billion for 3,557 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Kestra Private Wealth Services doesn't advise any private funds.

Careers at Kestra Private Wealth Services, LLC

The company employs 69 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 58 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Brett Ronald Schneider has been acting as President since 1 Jan 2009. L.P. Kingfisher Holding joined the executive team most recently as the Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Brett Ronald Schneider	Director	1 Jan 2009	Other	5636953
Robert Mason Bartenstein	Chief executive officer, president	1 May 2012	Other	2503260
Inc. Kestra Financial	Owner	1 Mar 2014	75% - 100%	13-4029115
Inc. Nfp Advisor Services Holdings D	Shareholder	1 Mar 2014	75% - 100%	13-4029115
Lori Michell Lieser	Vice president	1 Mar 2014	Other	2131475
Michael Ross Pedlow	Chief compliance officer	1 Aug 2014	Other	4871563
James Lynn Poer	Vice president	1 Jun 2016	Other	1983357
John Patrick Vanderheyden	Vice president	1 Jun 2016	Other	2235802
Robert Bredt Norwood	Vice president, secretary	1 Jun 2016	Other	2536685
Yin Yin	Assistant secretary	1 Jun 2016	Other	3219513
Lydia R Zaidman	Assistant secretary	1 Jun 2016	Other	5032816
Kevin Lee Witt	Svp, chief technology officer/chief information security officer	1 Jun 2016	Other	6255787
Joel Van Bennett	Svp, chief financial officer	1 Oct 2016	Other	2047878
Michael Ross Pedlow	Chief compliance officer	1 Mar 2018	Other	4871563
Mark Paul Schoenbeck	Vice president	1 Aug 2018	Other	2625829
Kristen Lawless Chester	Vice president	1 Feb 2019	Other	6896952

Indirect Owners

The SEC currently registers 17 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Patriot Intermediate Holdings B. Corp.	Owner	1 Jul 2013	75% - 100%	46-2704384
Patriot Intermediate Holdings A. Corp.	Owner	1 Jul 2013	75% - 100%	46-2723281
Llc Patriot Investment Holdings	Owner	1 Jul 2013	75% - 100%	30-0781325
L.P. Madison Dearborn Capital Partners Vi A	Owner	1 Jul 2013	75% - 100%	26-1274415
L.P. Madison Dearborn Partners Vi A&C	General partner	1 Jul 2013	Other	26-1267403
Madison Dearborn Partners	General partner	1 Jul 2013	Other	157349
Inc. Kestra Advisor Services Holdings C	Owner	1 Oct 2014	75% - 100%	47-1573405
Inc Kestra Advisor Services Holdings B	Owner	1 Oct 2014	75% - 100%	47-1585299
Inc Kestra Advisor Services Holdings A	Owner	1 Oct 2014	75% - 100%	47-1595804
Kestra Financial Holdings Lp	Owner	1 Jun 2016	75% - 100%	99-9999999
L.P. Trident Vi Parallel Fund	Limited partner	1 Jun 2016	25% - 50%	99-9999999
L.P. Trident Vi	Limited partner	1 Jun 2016	25% - 50%	99-9999999
L.P. Kingfisher Holding	Owner	1 Jun 2019	75% - 100%	83-3788640
Inc. Kingfisher Holding B	Owner	1 Jun 2019	75% - 100%	83-3798493
Inc. Kingfisher Holding A	Owner	1 Jun 2019	75% - 100%	83-3797972
L.P. Warburg Pincus Financial Sector	Limited partner	1 Jun 2019	25% - 50%	82-1919654
Llc Kingfisher Holding Gp	General partner	1 Jun 2019	Other	83-3788468

Based in Austin

The principal office where Kestra Private Wealth Services, LLC performs its advisory services is located at 5707 Southwest Parkway, Austin, TX 78735, which is also the mailing address of the firm. An additional office of the firm is in Brea, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 844-553-7872. The normal business hours are 8am-5pm on Monday - Friday. You can find more information about the New York firm at washwm.com/.