Report: Kestra Private Wealth Hires $500M Advisory Team from UBS

Kestra Financial’s Kestra Private Wealth has recruited a $500M Memphis, TN-based advisory team formerly operating as Bright River Wealth Management at UBS, CityWire reported December 18, citing a source with knowledge of the situation.

The team is composed of advisors Adam Steen, Stefan Gertsch, and Will Brown. Steen, in his LinkedIn profile, identified their team as Steen, Gertsch and Brown Wealth Management Group, and all three advisors continued to list UBS as their current employer on LinkedIn. Steen had been with UBS nearly 27 years after starting his career at Merrill Lynch in 1992. and Gertsch

They also indicated years of experience at Merrill Lynch. Gertsch was at UBS for 13 years and also had a previous stint at Merrill from 2009 to 2012. Brown began his career as an intern at UBS in 2015.

As of its most recent Form ADV filing in November, Kestra Private Wealth reported managing $7.3B in client assets. Majority ownership of its ultimate parent Kestra Holdings returned to Stone Point Capital, which reacquired a controlling interest from Warburg Pincus, as reported by Dakota on October 16.

Written By: Dakota

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