Insurance broker and consultant NFP is joining a cohort of insurance giants who are exiting the independent broker dealer business ahead of the Department of Labor fiduciary ruling.
NFP is selling their advisor-services arm, NFP Advisors Services to private equity firm Stone Point Capital, the company announced. Under the arrangement, NFP Advisors Services will be rebranded Kestra Financial. Headquartered in Austin, Texas, Kestra has more than 1,700 affiliated independent advisors operating under its brand.
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