The Diamond Podcast: Kestra Leaders Discuss Scale, Private Equity
As advisory practices grow larger and more sophisticated, the definition of success is shifting. For many advisors, it’s no longer just about income or payout. It’s about ownership, alignment, and building something that carries real enterprise value.
That shift raises important questions, such as:
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What does scale actually enable?
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How should advisors think about capital?
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And what does alignment really look like between firm leadership, capital providers, and the advisors they serve?
To explore that, we invited three guests who see this from unique vantage points. James Poer, who leads Kestra Holdings, John Amore, who oversees the strategy and execution behind Kestra Financial’s growth, and Fayez Muhtadie, who represents Stone Point Capital, Kestra’s private equity partner.
Kestra today operates one of the larger independent wealth management ecosystems in the country, supporting roughly 1,450 advisors and overseeing more than $160B in assets across its broker/dealer and RIA platforms. Stone Point, for its part, is a financial services-focused private equity firm with decades of experience investing in banks, asset managers, insurers, and wealth platforms.
Together, they represent a scaled, privately backed model that has become increasingly common in our industry.
In this episode with Louis Diamond, they unpack what they describe as “multiple ways to win” actually means inside a platform of this size, including:
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The Kestra ecosystem—and how the firm has evolved from its founding to spin-off from NPF.
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The value of private equity ownership—and how common misconceptions impact the positive potential.
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The importance of cultural alignment—and how it can be preserved as firms grow.
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Growth and scale—and why James believes this business is not an income game, but a wealth game.
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Plus, the questions advisors should be asking when assessing their current firm or platform.
If you’re evaluating scale, ownership, or long-term enterprise value in your business, this is a conversation worth hearing.