Bluespring Wealth Partners, the RIA acquisition arm of Kestra Holdings, has acquired Rodgers & Associates Wealth Advisers, a Lancaster, Pa.-based registered investment advisor 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, manager of adviser services; and Clint Krushinsky, business development specialist. The firm provides retirement planning for nearly 1,000 clients.
The RIA cited Bluespring’s marketing, back-office resources and succession planning tools as reasons to join the platform.
“From the beginning, we were drawn to Bluespring’s emphasis on growth at scale while staying true to the core of our business,” Rick Rodgers said in a statement. “Firm-wide, we look forward to building on even more organic growth and success in the coming years, supported by Bluespring’s array of resources so that we can continue excellent service and high-quality experiences for our clients.”
This follows news earlier this month that Bluespring acquired Shelton Financial Group, a Fort Wayne, Ind.-based firm with nearly $500 million in client assets.
About a year ago, Bluespring President David Canter stepped down from his role at the firm, just one year after taking the helm. 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.
A recent Citywire report said Pradeep Jayaraman had stepped down from his role at Focus Financial Partners to lead Bluespring. A spokeswoman for Bluespring did not respond to a request for comment.
Kestra launched its Bluespring Wealth Partners subsidiary in July 2019, aimed at acquiring RIAs looking for a succession planning solution. When Bluespring acquires a company that does not have a succession plan, it places a successor in its ‘Successor Academy,’ an “intensive” two-year program aimed at training second-generation advisors to eventually take over the business.
