Bluespring Acquires $500M Indiana Wealth Business 

Bluespring Wealth Partners, an acquirer of independent RIAs and hybrid wealth management firms, acquired Shelton Financial Group, a Fort Wayne, IN-based firm with $500 million in assets. The firm has also transitioned its investment business to Bluespring’s affiliated wealth management platform, Kestra Financial, which will allow Shelton to use all the tools offered within the Kestra ecosystem. 

“We’re pleased to have Shelton join our network of high-performing firms,” said Bluespring’s chairman Stuart Silverman. “Supporting teams as they transition into new phases of their business is an important part of our mission, and we look forward to helping the team at Shelton build for its next generation.” 

Shelton is led by president and founder Jeff Shelton. The team has operated for 25 years. Shelton is supported by financial professionals Nathan Shelton and Matt Fry who focus respectively on providing faith-based investments, financial planning solutions, and financial planning for working-class families. 

This is the third deal of the year for Bluespring, which acquired KDI Wealth Management, a Scottsdale, AZ-based husband-and-wife-team overseeing more than $750 million in client assets, in May and the combination of two partner firms, Retirement Wealth Specialists (RWS) and Security Financial Management (SFM), to create a hub in Florida managing approximately $1.4 billion in assets, in March. 

Kestra Holdings also owns the independent brokerage firm Kestra Financial, which includes Kestra Private Wealth Services, Kestra Advisory Services, and Kestra Investment Services. Warburg Pincus owns a majority stake in Kestra Holdings, while Oak Hill Capital holds a minority stake.