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January 31, 2020

Bluespring Wealth Partners takes over Retirement Wealth Specialists

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

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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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.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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