Kestra's Bluespring Buys $2.3B Massachusetts-Based RIA

Core Insights - Bluespring Wealth Partners has acquired SHP Financial, adding $2.3 billion in assets under management and enhancing its presence in New England [1][4] - The acquisition includes a 50-person team from SHP, consisting of seven producing advisors and 18 financial services professionals, who will retain their brand and operational model [2][4] - SHP Financial, founded in 2003, serves mass-affluent and high-net-worth clients with financial planning services and has a partnership with Fidelity Investments [3] Company Strategy - SHP Financial sought a partner that would allow them to maintain their operational model rather than impose an integration model, which they found unappealing [4] - The acquisition is Bluespring's largest since its founding in 2019 and positions the firm to potentially exceed its 2025 asset addition target of $6 billion [4] - The deal is characterized as an acceleration story, indicating a focus on growth rather than transition [5]