Bluespring Wealth Partners, the RIA rollup subsidiary of Kestra Holdings, has acquired Dallas-based CD Wealth Management, a hybrid that manages $850 million in assets.
CD Wealth Management, which was founded in 2014, will continue doing business under its name, and its founder and partners will maintain a significant equity interest.
Founder Scott Cohen said the firm’s arrangement with Bluespring will give it the scale to continue to deliver superior wealth management advice.
The deal for CD Wealth is Bluespring's fourth acquisition so far this year; in 2021, it made five acquisitions.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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