# Kestra vs. Osaic: Comparing two private equity-owned platforms

URL: https://www.financialadvsr.com/compare/kestra-vs-osaic
Updated: 2026-10-10
Publisher: Financial ADVSR (https://www.financialadvsr.com)

Osaic is the larger network, reporting about 10,000 advisors and about $747 billion in assets under administration as of March 31, 2026, compared with more than 1,300 producing financial professionals and about $142 billion in assets under advisement at Kestra as of April 2025. Both are private equity-backed: Stone Point Capital funds became Kestra's majority owner in February 2025, while Osaic is owned by Reverence Capital Partners. Each pairs an independent broker-dealer with an employee option, Kestra through its RIA acquirer Bluespring and Osaic through its W-2 corporate RIA. Neither profile includes a published payout rate.

## Key differences

- Size: Kestra reported more than 1,300 producing financial professionals and about $142 billion in assets under advisement as of April 24, 2025. Osaic reported about 10,000 advisors and about $747 billion in assets under administration as of March 31, 2026. [1] [2]
- Ownership: Stone Point Capital funds became Kestra's majority owner on Feb. 3, 2025, with Oak Hill Capital as a minority owner and management and advisors holding equity. Osaic is owned by Reverence Capital Partners, which closed a recapitalization of more than $2 billion, adding Bain Capital, on April 30, 2026. [3] [2]
- Headquarters and history: Kestra is based in Austin, Texas, and was established in 1997. Osaic is based in Phoenix and renamed itself from Advisor Group in June 2023. [4] [5]
- Supported and employee models: Kestra Private Wealth Services targets wirehouse breakaways seeking operational support, and Bluespring Wealth Partners buys fee-only firms whose advisors become W-2 employees. Osaic's Empowered Independence channel makes advisors W-2 employees of its corporate RIA. [6] [7] [8]
- Acquisitions: Bluespring booked a record $6 billion in acquired client assets in 2025. Osaic agreed in June 2025 to buy CW Advisors, which managed about $13.5 billion, adding a fee-only RIA option. [7] [9]

## Questions

**Is Kestra bigger than Osaic?** No. Osaic reported about 10,000 advisors and about $747 billion in assets under administration as of March 31, 2026. Kestra reported more than 1,300 producing financial professionals and about $142 billion in assets under advisement as of April 2025.

**Who owns Kestra and Osaic?** Kestra's parent, Kestra Holdings, has been majority owned by Stone Point Capital funds since Feb. 3, 2025. Osaic is owned by Reverence Capital Partners, with Bain Capital joining in an April 2026 recapitalization.

**Which pays advisors more, Kestra or Osaic?** Our profiles don't include published payout rates for either firm, so we can't compare them.

Sources:
[1] Kestra Financial (Business Wire): Kestra Financial Adds $2.4 Billion in Recruitment Assets in First Quarter of 2025, With Strong Q2 Outlook (https://www.businesswire.com/news/home/20250424776080/en/Kestra-Financial-Adds-$2.4-Billion-in-Recruitment-Assets-in-First-Quarter-of-2025-With-Strong-Q2-Outlook)
[2] Reverence Capital Partners (PR Newswire): Reverence Capital Partners Closes More Than $2 Billion Recapitalization of Osaic (https://www.prnewswire.com/news-releases/reverence-capital-partners-closes-more-than-2-billion-recapitalization-of-osaic-302759117.html)
[3] Kestra Holdings (Business Wire): Kestra Holdings Completes Recapitalization Including Stone Point Capital (https://www.businesswire.com/news/home/20250203509211/en/Kestra-Holdings-Completes-Recapitalization-Including-Stone-Point-Capital)
[4] Kestra Financial (Business Wire): Kestra Financial Expands Business Development Team Across the Western U.S. (https://www.businesswire.com/news/home/20260707557925/en/Kestra-Financial-Expands-Business-Development-Team-Across-the-Western-U.S.)
[5] InvestmentNews: Forget Advisor Group. It's now Osaic (https://www.investmentnews.com/forget-advisor-group-its-now-osaic-238998)
[6] Pulse 2.0: Kestra Private Wealth Services Onboards $250 Million Advisor Eric Longstreth (https://pulse2.com/kestra-private-wealth-services-onboards-250-million-advisor-eric-longstreth)
[7] WealthManagement.com: Kestra's Bluespring Gains Record $6B in Assets in 2025 (https://www.wealthmanagement.com/ria-news/bluespring-books-record-6b-in-25-more-teed-up-for-26)
[8] Osaic (Business Wire): Osaic Expands Empowered Independence Channel with $575 Million Tri-State Financial Group (https://www.businesswire.com/news/home/20260630329262/en/Osaic-Expands-Empowered-Independence-Channel-with-$575-Million-Tri-State-Financial-Group)
[9] Wealth Solutions Report: Osaic to add $13.5 billion in AUM with CW Advisors acquisition (https://wealthsolutionsreport.com/2025/06/18/osaic-to-add-13-5-billion-in-aum-with-cw-advisors-acquisition/)