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Industry Spotlight > Broker Dealers

Kestra Taps New President at H. Beck

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Broker-dealer and registered investment advisor H. Beck, which works with about 600 advisors, has a new president: Michelle Barry, who most recently served as president and CEO of Hornor, Townsend & Kent, a broker-dealer and subsidiary of The Penn Mutual Life Insurance Co.

According the Kestra Financial, which acquired H. Beck earlier this month, Barry has been in the industry for over 20 years and helped Horner, Townsend & Kent double its revenue, improve advisor retention and overhaul its back-office technology.

Scott Thorson, who has been with H. Beck for the past four years, will stay on as chief operating officer.

“Michelle’s executive experience in the broker-dealer/RIA industry, paired with her expertise in advisor technology and practice management, allows her to hit the ground running and to enhance H. Beck’s value proposition,” said Kestra CEO James Poer, in a statement.

“She will serve as an invaluable leader as we work to expand and optimize H. Beck’s technology and operational solutions to empower advisor success,” Poer explained.

Before being with HTK, Barry worked for Ameritas Life, The Advisor Group of independent broker-dealers and Salomon Smith Barney.

“With the backing of an industry leader in advisor technology and practice management solutions like Kestra Financial, H. Beck is well-positioned to create an optimal environment for advisors to grow and flourish in their practices,” Barry explained in a statement.

Kestra Financial is based in Austin and is the parent company of several RIAs: Kestra Investment Services, Kestra Advisory Services, Kestra Private Wealth Services and Kestra Institutional Services.

Kestra Financial announced plans to buy H. Beck from Securian Financial in August and said at the time that the groups work, respectively, with about 1,700 and 600 advisors.

In terms of assets under management at its RIAs, Kestra had $21 billion, while H. Beck had about $2.5 billion. (These figures do not include assets under administration.)


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