David Canter stepping down as president of Bluespring

David Canter stepping down as president of Bluespring
Canter joined Bluespring only a year ago after spending nearly 13 years at Fidelity Investments.
AUG 23, 2023

David Canter is stepping aside as president of Bluespring Wealth Partners just one year after joining the firm.  

Canter will remain with Bluespring as a senior strategic advisor and will assist in the search for a new president, the company announced Wednesday. Stuart Silverman, who helped found the business and was president before Canter’s appointment, will serve as chairman and interim president of the firm.

Canter previously spent nearly 13 years with Fidelity Investments and was the head of the firm’s RIA business. Bluespring, an RIA consolidator and subsidiary of Kestra Holdings, announced Canter’s hiring in July 2022, two days after an internal email at Fidelity revealed his departure.

The firm has made 30 acquisitions since launching in 2019 and supports 24 firms in its network. However, the company has not made any acquisitions in 2023. Canter recently appointed two vice presidents of corporate development — Tom Valverde and Josh Bartholomew — to focus on finding new acquisition targets.

Changing the leadership again just one year later is intended to “harness new opportunities for growth,” according to James Poer, CEO of Kestra.

“We remain excited about the future of Bluespring and look forward to continuing to strengthen the business,” Poer said in a statement.

Silverman will assume day-to-day leadership responsibilities, including overseeing Bluespring’s business development and acquisition strategy.

“Elevating my involvement above the day-to-day management of the firm will allow me to focus more strategically on supporting what Bluespring does best — developing financial advisor partnerships that give business owners the flexibility, independence, support and resources they need to succeed,” Canter said.

A spokesperson for Bluespring said Canter’s new role will “better strategically serve the business.” The company declined any additional comment.

Smaller wealth managers using Gen AI to punch above their weight, says Accenture strategist

Latest News

JPMorgan tells fintech firms to start paying for customer data
JPMorgan tells fintech firms to start paying for customer data

The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.

FINRA snapshot shows concentration in largest firms, coastal states
FINRA snapshot shows concentration in largest firms, coastal states

The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.

Why advisors to divorcing couples shouldn't bet on who'll stay
Why advisors to divorcing couples shouldn't bet on who'll stay

Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.

SEC spanks closed Osaic RIA for conflicts, over-charging clients on alternatives
SEC spanks closed Osaic RIA for conflicts, over-charging clients on alternatives

With more than $13 billion in assets, American Portfolios Advisors closed last October.

William Blair taps former Raymond James executive to lead investment management business
William Blair taps former Raymond James executive to lead investment management business

Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.