Bluespring Wealth Partners, a prominent acquirer of independent and hybrid wealth management firms, has expanded its reach in the Sun Belt.
The RIA aggregator announced Thursday that it has acquired KDI Wealth Management, a Scottsdale, Arizona-based wealth manager overseeing more than $750 million in client assets.
The transaction, made public today, marks a significant addition to Bluespring's growing network of financial advisories.
Established in 2005, KDI is led by a trio of wealth advisors that includes CEO Kevin Dick, a 25-year industry veteran; his wife Carrie Dick, who is also the firm’s president; and Shane Keith.
Previously affiliated with Commonwealth Financial Network, the 14-person team at KDI offers services such as retirement and estate planning, cash flow and tax planning to individuals and families. This acquisition promises to provide KDI with additional resources while preserving its operational independence.
"Bluespring's dedication to fostering entrepreneurship deeply resonated with us," Kevin Dick said in a statement. "We’re excited to have a partner that respects our vision for the business. With Bluespring we will be able to elevate our capabilities, expand our reach, and continue to deliver exceptional value to our clients."
The acquisition is aligned with Bluespring's strategy of integrating firms that uphold a strong commitment to client success and service excellence.
"Their first-class track record, commitment to excellence, and dedication to client success perfectly complement our values and objectives," said Stuart Silverman, chairman of Bluespring.
In addition to partnering with Bluespring, KDI will join the Kestra Financial wealth management platform, benefiting from its tools and services. Stephen Langlois, president of Kestra, highlighted its structure that “enables advisors to choose how to best leverage our capabilities to advance their growth.”
In late March, Kestra took a bite out of the high-net-worth market in the Big Apple as it inked a partnership with New York-based Borger Financial Services, a multigenerational firm with more than $600 million in client assets.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
