Kestra Financial-backed Bluespring Wealth Partners has continued its buying spree with the acquisition of Florida-based Retirement Wealth Specialists.

The latest transaction marks the first purchase of Bluespring Wealth Partners. Financial terms of the transaction were not divulged.

Retirement Wealth Specialists president and co-founder Mitchell Walk believes that the deal was structured to drive the growth of the business.

“We now have the resources to strengthen our value proposition, which includes creating an empowering and exciting work environment for our employees and delivering the best possible service to clients,” Walk said.

Set up in 1998, Retirement Wealth Specialists has branches in St. Augustine, Longwood as well as Sarasota.

The firm offers a range of services including tax strategies and estate planning to retail and institutional clients.

Bluespring Wealth Partners president Stuart Silverman welcomes the deal, saying that the acquired entity has an “exceptional track record of consistent, above-market growth, and a unique ability to attract and retain clients.”

“We have the utmost respect for Mitch and his team, and firmly believe our partnership will position the firm for an exciting, new chapter. Retirement Wealth Specialists also has an unparalleled strength of culture that we believe to be a perfect complement to Bluespring,” Silverman noted.

The latest deal continues the recent series of consolidation activities by Bluespring Wealth Partners. Its most recent takeovers include Hickory Asset Management, Believeland, and Vector Wealth Management.