Kestra Private Wealth Services (Kestra PWS), a registered investment adviser (RIA) subsidiary of Kestra Financial, revealed the addition of Kaizen Wealth Planning to its platform.
This new addition brings a significant milestone for Kestra PWS as it becomes the second firm located in its home state of Texas.
Kaizen Wealth Planning, based in Victoria, Texas, was founded and is currently led by David Bayarena. Under his guidance, the firm manages $170m in client assets.
What sets Kaizen Wealth Planning apart is its specialisation in tax optimisation, focusing on every aspect of the decision-making process, from portfolio construction to wealth strategies. David Bayarena is supported by his assistant, Jamie Schacherl.
Before joining forces with Kestra PWS, David Bayarena spent 14 years dedicated to his CPA firm, where he served as the sole wealth management and financial advisor. However, realizing the potential for greater growth in the independent space, he embarked on launching his own practice.
The partnership with Kestra PWS enables Kaizen Wealth Planning to access a full-service support model and tap into a deep bench of financial planning, investment management, and other solutions through its ecosystem of sister-firms. This collaboration allows Bayarena to concentrate on managing client portfolios and expanding his book of business.
Prior to establishing Kaizen Wealth Planning, David Bayarena had an association with Avantax Wealth Management.
Bayarena said: “The independent model allows us to channel our entrepreneurial nature and authentically serve clients in an environment free of corporate agendas.
“Kestra PWS’ boots on the ground approach to support is robust, as I saw firsthand with their assistance throughout the office leasing agreement process. This level of service frees me of the mundane projects that come with running a business so I can spend that extra time providing high-touch service to clients.”
The addition of Kaizen Wealth Planning to Kestra PWS’s platform is expected to bolster the company’s investment advisory capabilities, expand its service offerings, and cater to clients’ needs more effectively in the Texas market and beyond.
Kestra PWS senior managing director and CEO Rob Bartenstein said: “At Kestra PWS, we pride ourselves on connecting talented financial professionals with the right resources so they can thrive as independent business owners.
“With our collaborative culture and comprehensive support, David and his team have maximum growth potential and will become a staple of the South Texas community.”
