Bluespring Merges Two RIAs to Create $1.4B Florida Hub

merger-money-handshake-illustration.jpg Feodora Chiosea/iStock/Getty Images Plus RIA Edge>RIA News Bluespring Merges Two RIAs to Create $1.4B Florida Hub The combined RIA will operate under the Security Financial Management name and serve clients from five Florida locations.

Bluespring Wealth Partners, the RIA acquisition arm of Kestra Holdings, has combined two of its partner firms, Retirement Wealth Specialists and Security Financial Management, to create a registered investment advisor with $1.4 billion in assets and five locations across Florida.

The RIA will operate under the Security Financial Management name.

Related: Kestra’s Bluespring Buys $500M Virginia RIA

“Two of our partners merging to become a leading wealth management firm in the Southeast is a testament to the high level of quality and like-mindedness we’ve built in the Bluespring community, further echoing the advantage of integration into the BWP ecosystem,” said Bluespring Chairman Stuart Silverman in a statement.

Bluespring acquired RWS in early 2020. The firm was established in 1998 by founders Mitchell B. Walk and Bruce S. Udell. From its offices in Longwood and Sarasota, Fla., it provides investment and tax strategies and estate planning services to both retail and institutional clients.

Related: Bluespring Details ‘Blueprint for Growth’ Initiative

Security Financial Management sold to Bluespring in early 2022. With offices in Orlando, Melbourne and Lake Nona, Fla., it was founded over 30 years ago by Dave Allen and Frank Lovaglio, and provides comprehensive wealth management to high-net-worth individuals and families.

 

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Originally posted on: https://www.wealthmanagement.com/ria-news/bluespring-merges-two-rias-create-14b-florida-hub