The Stock Watcher
Sign InSubscribe
Breaking News

Kestra Investment Services Faces Allegations in Fraudulent Scheme

Share this article

Allegations against Kestra Financial in fraudulent life insurance scheme.

an anonymous image showing a modern office setting with financial advisors and clients engaged in discussions, symbolizing the wealth management services provided by kestra financial.

Austin-based Kestra Financial, a Kestra Holdings company with a couple of corporate RIAs and a broker/dealer overseeing $108 billion in assets under management, is currently facing allegations in connection with an allegedly fraudulent life insurance scheme. A revocable trust and its trustees are hoping to find Kestra liable for the scheme, which was reportedly perpetrated by one of the company's representatives.

The allegations stem from a claim that a Kestra representative sold a life insurance policy to the trust, promising high returns and benefits that were never realized. The trust and its trustees are seeking damages and holding Kestra responsible for the actions of its representative.

Kestra Financial, an industry-leading wealth management platform, today announced the addition of Borger Financial Services (“BFS”) to its growing network of affiliated advisors. Based in New York, the multigenerational HNW practice expects to build on its meteoric growth record while elevating its service offerings.

AUSTIN, Texas–(BUSINESS WIRE)–Kestra Private Wealth Services (Kestra PWS), a registered investment adviser subsidiary of Kestra Financial, is dedicated to providing personalized financial planning and investment management services to high-net-worth individuals and families. The firm focuses on creating customized wealth management strategies tailored to each client's unique needs and goals.

AUSTIN, Texas, June 11, 2024--Kestra Investment Management (KIM), a division of Kestra Holdings, an industry-leading wealth management firm, recently reached a significant milestone by surpassing $1 billion in assets under management. This achievement is a testament to Kestra's commitment to delivering exceptional investment solutions and superior client service.

Will Gungoll left Edward Jones to found Buffalo Capital, named to honor his Native American heritage and community. His firm has since become affiliated with Kestra Private Wealth Services (Kestra PWS), a registered investment adviser subsidiary of Kestra Financial, further expanding Kestra's network of advisors.

The news of Kestra Investment Management reaching $1 billion in assets under management demonstrates the firm's continued growth and success in the wealth management industry. This milestone highlights Kestra's ability to attract and retain clients while providing top-notch investment solutions and financial planning services.

kestra financialfraudulent schemelife insuranceborger financial serviceshigh-net-worthinvestment managementassets under managementwealth managementfinancial planningbuffalo capital
Share this article