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Wednesday, 13 September 2017 14:58

Grand Rapids wealth management firm sells to Texas company

Written by  MiBiz Staff
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Austin, Texas-based Kestra Financial Inc. has acquired Rinvelt & David LLC, a wealth management firm in Grand Rapids.

Rinvelt & David manages about $275 million in assets. The firm, founded by Robert Rinvelt and Roger David, provides financial planning to businesses and individuals.

“This partnership with Kestra Financial solidifies our commitment to providing superior service to our clients and the community while allowing us to maintain our independence in management and product selection. We are excited to remain personally involved in the day-to-day operations of our firm, as well as to continue to help our clients reach their financial goals,” Rinvelt said in a statement. “This new chapter offers us the additional tools and resources needed to build a lasting legacy for our firm and the clients we serve.”

Kestra Financial provides an adviser platform that supports more than 1,700 independent financial.

Terms of the deal were undisclosed.

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