After more than 15 years with Edward Jones, advisor Will Gungoll has joined Kestra Private Wealth Services and launched his own practice, Buffalo Capital Management, a nod to his Native American heritage, in Enid, Okla.
Joined by Administrative Relationship Manager Deena Timm, Gungoll offers holistic financial planning and portfolio management for families, individuals and small business owners.
Gungoll said in a statement the move to independence will allow the team to “gain a deeper understanding of the clients we serve while providing a more sophisticated experience without the distractions of corporate interests.”
Kestra launched its Private Wealth Services division in 2010 to help wirehouse and W-2 advisors go independent, providing office logistics assistance, consultative compliance support, a comprehensive platform, a transition plan and daily management support. The firm has since helped to launch more than 35 practices in 17 states, with Buffalo Capital representing its first office in Oklahoma.
In 2023, Kestra PWS picked up several former Goldman Sachs advisors from a unit that was sold to Creative Planning, and helped to launch at least seven independent practices, including Destination Wealth Advisors, Inspired Wealth Planning, Thriving Asset Management and Affidaré Private Wealth Management.
Kestra Financial was overseeing more than $100 billion in client assets across all four entities at the end of 2022, about half of which was under management. The firm is owned by Kestra Holdings, which is majority owned by Warburg Pincus and includes acquisition-focused RIA Bluespring Wealth Partners and Arden Trust Company.
In 2023, Kestra sold off subsidiary Grove Point Financial—along with about $15 billion in assets—to Atria Wealth Solutions.