Kestra-backed Bluespring Wealth Partners Nabs $700M RIA Goldstein Advisors

Bluespring Wealth Partners, the registered investment advisor (RIA) acquisition arm of wealth management firm Kestra Holdings, has acquired Goldstein Advisors – an RIA that manages approximately $700 million in assets.

Bluespring did not disclose the financial terms of the deal.

Middleton, Wisconsin–based Goldstein Advisors, led by principals Jon Goldstein and Andy Peters, offers investment, tax and financial planning advice.

David Canter, president of Bluespring Wealth Partners, says his firm was attracted to Goldstein Advisors because of its growth trajectory and its financial planning expertise. “They’re a young firm in terms of the ages of the [team members] and they are excited to keep growing the business,” he says. “So, they fit nicely in our culture and community.”

Canter joined Bluespring earlier this year from Fidelity Investments where he served as head of the RIA custody business.

Launched as a Kestra subsidiary in 2019, Austin, TX-based Bluespring acquires financial advisors’ books of business with the aim of succession planning.

The Goldstein acquisition marks the ninth one for Bluespring this year, with some of the larger acquisitions including an RIA firm managing $850 million in assets in Texas as well as a practice with offices in Minnesota and Florida managing $950 million.