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August 21, 2019

Bluespring Wealth Partners makes first purchase with Hickory deal

Bluespring Wealth Partners has taken over Hickory Asset Management for an undisclosed sum.

Hickory, headquartered in Ohio, delivers financial planning and portfolio management services.

Headed by Daniel LeScoezec, the firm tends to individuals, corporate executives, and business owners.

“Partnering with Bluespring Wealth will not only help us devise a customised plan for the future and grow our practice, but also open up the doors to a culture steeped in entrepreneurship and success,” LeScoezec stated.

The deal marks Bluespring Wealth’s first acquisition since its launch last month.

Bluespring Wealth president Stuart Silverman said: “The Hickory Asset Management team has operated a well-run firm and employed a disciplined approach to client service since their founding in 2008.

“Their entrepreneurial spirit and desire to build and preserve a lasting legacy for clients and employees alike falls squarely in line with our mission at Bluespring Wealth.”

A subsidiary of Kestra Financial, Bluespring Wealth is focused on the acquisition of RIAs and wealth management firms.

Kestra said that Bluespring Wealth will work alongside the acquired firms to customise deals in a way that enables owners to select the timing and their level of involvement in the business.

Bluespring Wealth will also offer capital to the purchased firms if they intend to make acquisitions themselves.

Besides, it will assess growth opportunities and potential cost savings as well as enable the acquired firms to identify and train successors through its Successor Academy.

 

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