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Mindy Diamond on Independence

Mindy Diamond on Independence: Bluespring's David Canter on M&A, RIAs and More

The president of Kestra Holding’s Bluespring Wealth Partners discusses the firm’s mission of acquiring independent wealth management practices, and shares his unique perspective and advice on M&A, independence, business ownership and more.


You might say that David Canter’s role as President of Bluespring Wealth Partners clearly demonstrates a continually evolving industry.

The subsidiary of Kestra Holdings launched in 2019 with a mission focused on acquiring independent wealth management practices that have their sights set on growth, succession, and continuity.

And it was a mission that proved to be a powerful draw for the nearly 13-year veteran of Fidelity Clearing & Custody Solutions—and a perfect match for his experience and knowledge around M&A and the RIA space.

David was first a guest on this series in September of 2018 when he was the Executive Vice President and Head of the RIA segment for Fidelity, responsible for driving the execution and results of more than 2,800 RIA firms across eight territories throughout the U.S. In that episode, he shared an extensive view of independence and the custody industry (with commentary that is still relevant today, so be sure to listen in).

No doubt, independent business owners have a growing field of options when considering selling all or a piece of their business. And in what continues to be an active M&A market, Bluespring has been attracting its fair share of headlines. For instance, they closed out 2022 with 9 acquisitions—more than $3B in AUM.

Yet one of the biggest announcements last year could be that of David taking on the leadership role of the firm.

Because there are few people in this industry who have David’s unique combination of experience and knowledge—nor is there anyone as generous in sharing all that he knows.

In this episode with Louis Diamond, David talks about an evolving industry, including:

  • Life in the independent world “before it was cool”—and how it’s changed today.
  • His view of the custody world—and why he sees it as a utility business and not a commodity.
  • The options advisors have when considering a capital partner or exit strategy—and how Bluespring fits into this ecosystem.
  • Bluespring’s unique value proposition—and why he sees the firm as a “force multiplier.”
  • The talent shortage—and why he’s optimistic about well-trained next gens rising up.
  • The bull market for advisors and advice—and the 4 key things continuing to drive movement and M&A activity.
  • Plus, David talks in-depth about finding your “unfair advantage”—and why it’s one of the most important aspects of any successful business.
  • And much more!

It’s an episode that covers a lot of ground—an in-depth knowledge base for employee advisors and independent business owners alike.

Download a transcript of this episode…

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Listen to more episodes of Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change.

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