Bluespring Wealth Partners acquires $500M family-run firm in Virginia

Bluespring Wealth Partners has acquired a family-run firm in Herndon, Virginia, which oversees more than $500 million in client assets.

Hughes Financial Services was founded 15 years ago by Paul Hughes and Scott Hughes, who are managing partners alongside Patrick Hughes, and Berkeley Meredith.

The firm has a focus on families, medical professionals, corporate executives, and local, state, and federal employees and the decision to join Bluespring, a subsidiary of Kestra, was driven by a desire to spend more time on client relationships and mutual relationships with firms already part of Bluespring.

“Bluespring Wealth Partners provides us with the opportunity to remain steadfast in our culture, provide a high level of service to our clients, and stay autonomous as a business while still getting the benefits of a larger firm,” the Hughes Financial team in a statement. “In the last four years, our firm has doubled in size and with Bluespring Wealth Partners on our team we can focus on continuing to take our business to new heights.”

Bluespring chairman Stuart Silverman says that Hughes Financial is a good fit.

“Their tight-knit culture and client-centric values are palpable, not to mention the team’s strong work ethic which has led the firm to impressive growth,” he said. “By leveraging our extensive tools and resources, we look forward to helping the team at Hughes Financial get back to spending time providing premier service to their clients.”