Arc Private Wealth, a $427 million firm based in Northwest Ohio, is transitioning to Kestra Financial's RIA subsidiary after previously being affiliated with Edward Jones. This decision follows Kestra's recent recapitalization, during which private equity firm Stone Point Capital regained majority ownership.

The founders of Arc Private Wealth—Dave Riggenbach, Adam Lublin, Amy Fredritz, and Dylan Clement—along with five support staff, will join Kestra Private Wealth Services. The firm operates in Oregon, Waterville, and Upper Sandusky, Ohio. Riggenbach noted that the firm was drawn to Kestra's commitment to a "high-touch, white-glove experience" for clients and its enhanced access to investment platforms.

The founders bring over 40 years of combined industry experience, having joined Edward Jones between 2015 and 2017, with Lublin starting in 2008. Kestra Financial, based in Austin, serves as the independent broker/dealer subsidiary of Kestra Holdings, which includes various subsidiaries like Kestra Private Wealth Services and Kestra Advisory Services.

Recently, Stone Point Capital reacquired its majority stake in Kestra Holdings, marking a significant shift in ownership. This recapitalization saw Warburg Pincus exit its majority investment, while Stone Point, which initially invested in Kestra in 2016, returned as the majority stakeholder. Oak Hill Capital had taken over Stone Point's stake in 2022 but remained a minority investor after the recapitalization.

The Stone Point deal is anticipated to close in the first quarter of 2025 and is not expected to affect Kestra employees or operations, nor will it require client repapering. The capital raised will be directed towards recruitment, service enhancements, technology improvements, and strengthening Bluespring Wealth Partners, Kestra's acquisition arm.

A Kestra spokesperson emphasized that Stone Point's return as majority shareholder reflects strong confidence in the management team and the financial services platform. This year, Kestra Private Wealth Services has also welcomed Borger Financial Services, a $600 million firm from New York, and a team of five advisors from Merrill Lynch managing approximately $500 million in assets.

To date, over 50 offices, both single and multi-team, have joined Kestra through KPWS. Kestra Financial currently manages around $108 billion in assets, with Kestra Holdings overseeing $117 billion in total managed assets.