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February 3, 2022

Bluespring continues buying spree with Security Financial deal

Bluespring Wealth Partners has snapped up Security Financial Management, which offers wealth management services for HNWIs and families.

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Financial terms of the transaction were not divulged.

The purchase of Security Financial Management, co-founded by Dave Allen and Frank Lovaglio, marks Bluespring’s third takeover this year.

Bluespring will accelerate the company’s capabilities and expand its scope, with consultative resources and back-office support.

The deal will drive growth through mergers, expansion of client service offerings and hirings.

Bluespring president Stuart Silverman said: “Dave, Frank, Mike, and Keith are a powerful management team who have an incredible depth of client relationships and engagement.

“They have assembled an outstanding team of advisers, who we’re excited to work with and continue investing in heavily.”

Security Financial Management manages more than $950m in assets. The firm, with more than 15 employees, has an office in Minnesota along with three offices in Florida.

Allen noted: “Bluespring Wealth Partners’ emphasis on culture and the value of delivering on promises was critical to our decision to align with them.

“As we learned about their unique partnership model, which empowers firms like ours to be the best possible version of ourselves, it was clear that this was the right step for our organisation.”

Bluespring enables entrepreneurs to drive growth of their businesses through successor identification and training, institutional capital support, ownership arrangements, as well as consulting and operational resources. 

Last year, Bluespring, a subsidiary of Kestra Holdings, concluded five takeovers.

These include the acquisitions of Ritter Daniher Financial Advisor, and Hedeker Wealth.

Free Whitepaper
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Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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