Kestra Financial announced the expansion of its network of companies and services through its entry into an agreement to acquire Reliance Trust Company of Delaware from FIS. The deal is expected to close by the end of 2018, subject to regulatory approval.
Reliance Trust Company of Delaware expands Kestra Financial, Inc.’s depth as a premier financial services provider by empowering the company to provide personal trust services and an increasingly sophisticated value proposition to the advisors and clients they serve. Reliance Trust Company of Delaware will continue to work independently and is being acquired with the staff and assets to continue running as a standalone business, although it will benefit from the capital and technology innovation Kestra Financial, Inc. provides through its independent advisor platform.
“Baby boomers have become the wealthiest generation in history, ushering in a phenomenon known as ‘the great wealth transfer;’ with a record-breaking $30 trillion to be passed from baby boomers to their heirs, the demand for trust services is only expected to grow in the years to come,” said James Poer, President and CEO of Kestra Financial, Inc.
“In light of these realities, the additional personal trust services delivered by Reliance Trust will complement our current network of companies, while expanding our depth as a premier financial services provider,” Poer noted.
Reliance Trust Company of Delaware’s platform, offices and personnel will remain fully intact at the close of the transaction and the company anticipates a seamless transition without impact to its clients or services. about Kestra Financial, please visit www.kestrafinancial.com.
