Bluespring Wealth Partners has purchased SHP Financial, a firm based in Massachusetts that manages about $2.3bn in assets for mass-affluent and high-net-worth clients.  

Financial specifics of the deal remain undisclosed.  

SHP Financial was established in 2003 by Derek L. Gregoire, Matthew C. Peck, and Keith W. Ellis Jr., who began their financial careers together in the insurance sector. 

The company employs around 50 staff across three offices in Plymouth, Woburn, and Hyannis. Its team includes seven advisers and 18 other financial services professionals. 

The firm is known for providing fiduciary advice and offers services such as its SHP Retirement Road Map, aimed at making retirement planning more accessible to clients. 

Peck said: “We are deeply protective of the culture we’ve built over the last two decades and were intentional about choosing a partner we felt could help us fuel SHP’s next stage of growth while helping us remain true to our goals. 

“And we found that partner in Bluespring. We believe Bluespring can provide the resources and support needed to grow and invest in our team, while preserving the client experience that defines SHP.” 

In 2025, Bluespring added over $6bn in assets under management to its business. 

Bluespring president Pradeep Jayaraman commented: “SHP is a team that has already built meaningful scale and is still hungry to grow. That’s what makes this an acceleration story, as opposed to a transition story.  

“SHP’s founders are seasoned leaders in the prime of their careers, still deeply engaged in their business, with decades of success yet ahead.  

Last month, Bluespring added Coghill Investment Strategies, managing around $600m in assets, to its network.