David Canter Steps Aside as Kestra-Backed Bluespring President

David Canter is stepping down from his role as president of Kestra Financial-backed wealth manager Bluespring Wealth Partners and transitioning into senior strategic advisor for the firm.

The decision comes a year after Canter joined Austin-based Bluespring, which specializes in acquiring registered investment advisory firms. The firm said it is starting a search for a new president, with Canter assisting with the effort.

Stuart Silverman, who helped found the business, will serve as chairman and interim business unit leader.

Canter joined Bluespring in June 2022, having previously worked for Fidelity as its head of RIA custody since March 2017. He succeeded Silverman as president of Bluespring, with Silverman becoming chairman.

“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,” said Canter.

Bluespring has announced three acquisitions since Canter’s appointment, all of which occurred in the fourth quarter of 2022. The firm has not announced an RIA purchase since that time.

Bluespring also appointed two new corporate development VPs, Tom Valverde and Josh Bartholomew, who will focus on sourcing potential new partner firms.

Launched in 2019, Bluespring initially supported eight firms from within the Kestra Holdings ecosystem. Today, Bluespring’s network comprises 21 brands and 24 firms, with 30 acquisitions to-date.

“As Bluespring continues to evolve, we are excited not only by the quantity of our talent but also the quality of the team that is coming together to support the business,” added James Poer, CEO of Kestra Holdings.