Kestra's Bluespring Buys $2.3B Massachusetts-Based RIA

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Bluespring Wealth Partners, the Austin, Texas-based registered concern advisor limb of Kestra Holdings, has acquired Plymouth, Mass.-based SHP Financial, adding $2.3 cardinal successful assets nether absorption and expanding its beingness successful New England. 

The acquisition brings to Bluespring’s W-2 exemplary a 50-person team, including 7 producing advisors and 18 fiscal services professionals, crossed 3 Massachusetts offices. SHP volition support its afloat squad intact done the deal, on with its marque name, arsenic a Bluespring spouse firm.

SHP was founded successful 2003 by Derek Gregoire, Matthew Peck and Keith Ellis Jr., who started their careers unneurotic successful the security manufacture earlier shifting to tally an employee-owned RIA. The steadfast custodies with Fidelity Investments’ NFS and serves mass-affluent and high-net-worth clients with fiscal readying services, including its proprietary status roadworthy representation program.

“While we had the infrastructure to proceed to turn arsenic we are now, we wanted to expand,” said SHP Financial co-founder and Partner Peck. “In bid to execute our imaginativeness of bringing the ‘SHP Way’ to the Northeast, we wanted to spouse with a steadfast that provides america the instant infrastructure, know-how and web to marque that happen.” 

Peck said the steadfast began looking for a spouse with M&A advisory Turkey Hill Management astir 12 months agone and was “turned off” by RIAs utilizing an integration model. Instead, they looked for a purchaser who would fto them support an operating exemplary they had honed done “trial and error.” 

“The integration exemplary offered by others meant, to us, that we would beryllium pursuing idiosyncratic else’s pb erstwhile we wanted to beryllium the leader,” helium said. “We appreciated Bluespring’s aboriginal designation of our imaginable and their willingness to enactment us, alternatively of interfering with our vision.”

The woody is Bluespring Wealth Partners’ largest by assets since its founding successful 2019, according to anterior announcements, and the largest nether President Pradeep Jayaraman, who took the apical occupation successful 2024 aft leaving Focus Financial Partners. It besides puts the steadfast connected a beardown gait to lucifer oregon transcend its 2025 full plus additions of $6 billion, which included immoderate teams affiliated with broker/dealer Kestra Financial.

“SHP is simply a squad that has already built meaningful standard and is inactive bare to grow,” Jayaraman said successful a statement. “That’s what makes this an acceleration story, arsenic opposed to a modulation story.”