Kestra Financial, Inc. 401(k) Review & Grade
Kestra Financial, Inc. 401(k) Plan
Austin, TXFinance & Insurance908 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,758Employer $ per active participant
$9,693Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$91.9MNet plan assets, end of year
$105,643Average balance per account
Score breakdown
- Employer generosity17.3 / 5035th percentile for employer $ per participant
- Low cost16.5 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving11.1 / 1574th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 35th |
| Lower admin cost | 66th |
| Employee saving | 74th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($500 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $46,330 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Kestra Financial put in about $2,758 per active participant, below the typical peer ($3,606). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $2,504,022 |
| Participant (employee) contributions | $8,800,909 |
| Other contributions (incl. rollovers in) | $10,439,466 |
| Administrative expenses paid from the plan | $108,005 |
| Investment advisory & management fees | $9,450 |
| Benefits paid out | $7,917,703 |
| Net assets, start / end of year | $67.0M / $91.9M |
| Active participants, start / end of year | 917 / 899 |
| Participants with account balances | 870 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $98,480 reported compensation |
| Morningstar Investment Service | $8,361 reported compensation |
| Charles Schwab & Co., Inc. | $1,447 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251105161338NAL0008487681001, received 2025-11-05, EIN 47-1566880, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.