Arc Private Wealth, a $427 million firm, has left Edward Jones to affiliate with Kestra Private Wealth Services, a subsidiary of Kestra Financial. According toWealthManagement, the move comes on the heels of Kestra Holdings' recent recapitalization, in which Stone Point Capital reacquired its majority stake from Warburg Pincus.

Kestra Financial, based in Austin, Texas, operates several subsidiaries, including Kestra Private Wealth Services, Kestra Advisory Services, and Kestra Investment Services. Stone Point Capital's reacquisition of its majority stake, expected to close in the first quarter of 2025, aims to support Kestra's recruitment, technology, and acquisition efforts through Bluespring Wealth Partners. WealthManagement reports that the deal will not require client repapering and is not expected to disrupt Kestra's operations.

WealthManagement reports that Kestra Private Wealth Services has added several notable teams this year, including Borger Financial Services, a $600 million New York-based firm, and a group of Ohio advisors managing $500 million in assets from Merrill Lynch. As part of Kestra Holdings, the financial firm oversees approximately $117 billion in assets, with Kestra Financial managing $108 billion.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.