Bluespring Wealth Partners acquired SHP Financial, a Massachusetts-based RIA, adding $2.3 billion in AUM and expanding its presence in New England. The acquisition brings a 50-person team, including seven advisors and 18 financial professionals, across three offices. SHP will maintain its team intact and brand as a Bluespring partner firm.

SHP Financial was founded in 2003 by Derek Gregoire, Matthew Peck, and Keith Ellis Jr., who transitioned from the insurance industry to run an employee-owned RIA. The firm serves mass-affluent and HNW clients with financial planning services, including a proprietary retirement road map program. SHP custodies with Fidelity Investments’ NFS.

SHP Financial sought a partner to help achieve their vision of expanding the ‘SHP Way’ to the Northeast. They chose Bluespring for its infrastructure, network, and support, allowing them to maintain their operating model. The deal is Bluespring’s largest by assets since its founding in 2019 and under President Pradeep Jayaraman.

Bluespring’s deal with SHP puts them on track to match or exceed their 2025 total asset additions of $6 billion. President Jayaraman sees SHP as a team hungry for growth, making this an acceleration story rather than a transition. The acquisition marks a significant milestone for Bluespring Wealth Partners.

Read more at Yahoo Finance: Kestra’s Bluespring Buys $2.3B Massachusetts-Based RIA