May 28, 2022

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Bluespring Wealth Partners Acquires $950+ Million Security Financial Management

AUSTIN, Texas–(BUSINESS WIRE)–Bluespring Wealth Partners, LLC, an industry-leading acquirer and partner of best-in-class wealth management firms, today announced the acquisition of Security Financial Management.

Established over 30 years ago, Security Financial Management has an office in Minnesota and three Florida offices, with more than 15 financial professionals. The firm is led by a seasoned and dynamic management team, which includes Co-Founders Dave Allen and Frank Lovaglio. Utilizing a hands-on and relationship-centered approach, the Security Financial Management team offers a comprehensive suite of wealth management services for high-net-worth individuals and families.

“We are incredibly proud of our team and the organization that we have built over the last 30 years,” said Lovaglio. “We are partnering with Bluespring Wealth Partners because we are ready for an exciting new chapter, which will enable Dave and I to focus on the things we enjoy most ― working with clients and building the business.”

With over $950 million in assets under management and a consistent track record of outstanding organic growth, the financial professionals at Security Financial Management have built a robust platform. The firm’s personnel spans multiple generations, enabling them to work with a broad range of clients to meet their needs today and for decades to come. Through the application of consultative resources and significant back-office support, Bluespring Wealth Partners will help to elevate the company’s existing strengths and expand its scope. The new partnership will emphasize growth through mergers, talent recruitment, and expanded client service offerings.

“Bluespring Wealth Partners’ emphasis on culture and the value of delivering on promises was critical to our decision to align with them,” said Allen. “As we learned about their unique partnership model, which empowers firms like ours to be the best possible version of ourselves, it was clear that this was the right step for our organization.”

“Dave, Frank, Mike, and Keith are a powerful management team who have an incredible depth of client relationships and engagement,” said Stuart Silverman, President of Bluespring Wealth Partners. “They have assembled an outstanding team of advisors, who we’re excited to work with and continue investing in heavily.”

Security Financial Management is Bluespring Wealth Partners’ third acquisition in 2022, contributing to a strong start to the new year. Bluespring Wealth Partners successfully completed five acquisitions in 2021.

About Bluespring Wealth Partners, LLC

Through a highly customized and people-centric approach, Bluespring Wealth Partners is dedicated to the acquisition and support of the industry’s premier wealth management firms. In partnering with best-in-class wealth advisors and their teams, Bluespring Wealth Partners looks to perpetuate and enhance the value that they bring their clients, providing continuity and new opportunities in the process. Bluespring Wealth Partners was established with the express purpose of helping entrepreneurs take their business to the next level of growth through successor identification and training, industry-leading consulting and operational resources, flexible ownership arrangements, and institutional capital support. By focusing on partnership as the driver of success, Bluespring Wealth Partners empowers wealth management firm owners to elevate their business without sacrificing their entrepreneurial spirit, founding principles, and long-term vision.

Bluespring Wealth Partners is a subsidiary of Kestra Holdings.

Securities offered through Kestra Investment Services, LLC and investment advisory services offered through Kestra Advisory Services, LLC.

For more information about Bluespring Wealth Partners, please visit www.bluespringwealth.com.