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.
“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.
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.