Bluespring Wealth Partners, the Kestra holdings subsidiary and leading acquirer of RIAs and hybrid wealth firms, has named a new president to oversee its continuing inorganic growth strategy.
Pradeep Jayaraman, who brings decades of experience in mergers and acquisitions, will oversee all aspects of strategy and operations for the wealth management acquirer.
He succeeds Stuart Silverman, who took over the president role from Fidelity alum David Canter in August last year. Silverman, who co-founded the company, will remain as chairman and continue to support its growth initiatives.
Jayaraman joins Bluespring after spending more than a decade at Focus Financial Partners, where he played a key role in acquiring and growing wealth management businesses. His most recent position at Focus was as co-head of partnerships and business development. Prior to that, he worked at Goldman Sachs, advising financial services clients on M&A transactions, debt, and equity offerings.
“We’re excited to bring such an accomplished business leader aboard to lead Bluespring Wealth Partners,” said James Poer, CEO of Kestra Holdings, in a statement Wednesday. “Jayaraman’s leadership, along with the rest of the team, will help drive continued growth and opportunity for the Kestra ecosystem.”
Bluespring has built a solid track record of deal-driven growth, acquiring independent registered investment advisors and hybrid wealth management firms. The Kestra subsidiary has appealed to these firms with solutions that let them secure their legacy while creating additional leverage in their businesses.
“Bluespring has built a unique and differentiated value-added platform,” said Jayaraman, whose experience is expected to help maintin the momentum in Bluespring's M&A pipeline. “I am proud to join a team that offers key strategic benefits to entrepreneurially minded firms, helping to preserve, sustain, and build on their legacy.”
Jayaraman will be based at Bluespring’s headquarters in Austin, Texas, where he will also join the executive team at Kestra Holdings.
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