Bluespring Wealth Partners, the RIA buyout arm of Kestra Holdings, has acquired Rodgers & Associates Wealth Advisers, a registered investment advisor based in Lancaster, Pa. with over $1.35 billion in client assets and 25 employees. Bluespring now has 27 partner firms.
Rodgers & Associates was founded in 1996 by husband and wife Rick and Jessica Rodgers. The management team also includes Sandra Skrodinsky, president and CCO; Susan Connors, director of operations; Patrick Carney, advisor services manager; and Clint Krushinsky, business development specialist. The firm provides retirement planning for nearly 1,000 clients.
RIA cited Bluespring's marketing, back office resources and succession planning tools as reasons for joining the platform.
“From the beginning, we were drawn to Bluespring's emphasis on growing at scale while staying true to the core of our business,” Rick Rodgers said in a statement. “Across the firm, we look forward to building even more organic growth and success in the coming years, supported by Bluespring's pool of resources, so we can continue to deliver excellent service and high-quality customer experiences.” ours.”
This follows the news earlier this month that Bluespring acquired Shelton Financial Groupa Fort Wayne, Ind.-based firm. with almost $500 million in client assets.
About a year ago, Bluespring president David Canter resigned from his role at the firm, just a year after taking over. Stuart Silverman, the current chairman of Bluespring who served as president before Canter, took over the day-to-day management of the company on an interim basis.
One last one Citywire The report said Pradeep Jayaraman had left his role at Focus Financial Partners to lead Bluespring. A spokeswoman for Bluespring did not respond to a request for comment.
Kestra launched its subsidiary Bluespring Wealth Partners in July 2019, with the aim of acquiring RIAs looking for a succession planning solution. When Bluespring buys a company that doesn't have a succession plan, it puts a successor in the 'Successor Academy', a two-year “intensive” program aimed at training second-generation advisers to eventually take over the business.