Kestra Financial’s current Wealth Management Head John Amore will become the firm’s president starting in April. He’ll succeed current president Stephen Langlois, who’ll remain on staff as a senior advisor through the end of the year before retiring.
Austin-based Kestra advises about $103 billion in assets and assists about 1,700 independent financial advisors. According to Amore, Kestra’s advisors can “expect the same level of empowerment” they had under Langlois’ tenure.
“I’m eager for the opportunity to build on Stephen’s great leadership, continuing to support the needs of our advisors along with their ability to operate as complete wealth managers,” Amore said.
Before joining Kestra in 2019, Amore spent more than 14 years with UBS, eventually becoming a managing director and leading the firm’s wealth management business in the U.S., Switzerland and Latin America, according to his LinkedIn profile.
Under his tenure, Kestra’s wealth management capabilities included portfolio construction, investment product development, advisory services, financial and retirement planning, and alternative investments.
In a statement, Langlois said he was confident in Kestra’s future and excited to stay in an advisory role through 2025 to ensure a seamless transition.
“While this marks the end of a personal chapter, Kestra Financial is at the beginning of a new one, with rapid growth ahead,” Langlois said. “The care and dedication to excellence John and his wealth management group have shown over the last five years is truly remarkable, and I know he’ll bring the same care to his new position.”
Kestra Financial includes Kestra Private Wealth Services and Kestra Advisory Services (its investment advisory sub-divisions), as well as Kestra Investment Services, its broker/dealer subsidiary. Kestra is part of the broader Kestra Holdings company.
Kestra recapitalized last autumn, with the private equity firm Stone Point Capital becoming the firm’s majority stakeholder for the second time. Stone Point initially took a majority interest in Kestra in 2016 (when it rebranded to its current moniker from its previous name, NFP Advisor Services).
However, Stone Point transitioned to a minority stake in the company in 2019 when private equity firm Warburg Pincus became the majority owner. PE firm Oak Hill Capital took over Stone Point’s minority stake in 2022. Last October, Stone Capital re-purchased its majority interest from Warburg Pincus, who exited its stake (Oak Hill Capital retained its minority interest post-recapitalization).
The deal was expected to close in this year’s first quarter but wasn’t expected to impact Kestra employees, advisors or operations, with no client account repapering. Stone Point’s capital would go toward recruiting efforts, service and technology platforms, and Bluespring Wealth Partners, Kestra Financial’s acquisition business.
Last week, Kestra Private Wealth Services added the $400 million Campus Private Wealth to its platform. The Arlington, Va.-based firm specializes in generational wealth strategies for high- and ultra-high-net-worth investors. In December, the firm added a $427 million Northwest Ohio-based firm previously affiliated with Edward Jones.
