Banking & Finance and Small Business & Startups

Financial company acquires wealth management firm

September 21, 2017
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Rinvelt & David web screenshot

A local wealth management firm has been acquired by an independent financial advisor platform.

Kestra Financial, located in Austin, Texas, said last week it acquired Grand Rapids-based Rinvelt & David from founders Robert Rinvelt and Roger David.

“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 said the Grand Rapids firm will be a good fit with the network.

“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,” said James Poer, president and CEO, Kestra Financial.

Rinvelt & David

Rinvelt & David currently manages $275 million in assets, and the combined team has more than 50 years of experience in offering financial planning services to individuals and businesses.

Kestra Financial

Kestra Financial supports more than 1,700 independent financial advisors in delivering comprehensive securities and investment advisory services to their clients.

Kestra Financial is a parent company of Kestra Investment Services, Kestra Advisory Services, Kestra Private Wealth Services and Kestra Institutional Services.

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