Austin, Texas-based Kestra Holdings subsidiary Bluespring Wealth Partners on Tuesday announced the acquisition of RIA SHP Financial, a Plymouth, Massachusetts-based financial planning firm that oversees about $2.3 billion in client assets.
The deal closed on Dec. 31, Pradeep Jayaraman, President of Bluespring, told WSR by email.
“SHP and Bluespring have been discussing the deal for over 12 months,” he said. “All branding remains the same [and] SHP will retain its name.”
SHP was founded in 2003 by Partners Keith W. Ellis Jr., Derek L. Gregoire and Matthew C. Peck, and focuses on mass affluent and high net worth clients, Bluespring said.
“All three are remaining” with the firm in the “same roles,” according to Jayaraman.
With three offices – one each in Hyannis, Plymouth and Woburn – SHP enables Bluespring to further expand in the New England region, it noted.
SHP’s platform has about 50 team members, including seven producing advisors and 18 other financial services professionals, according to Bluespring.
“We are deeply protective of the culture we’ve built over the last two decades and were intentional about choosing a partner we felt could help us fuel SHP’s next stage of growth while helping us remain true to our goals,” Peck said in a news release.
He added, “We found that partner in Bluespring. We believe Bluespring can provide the resources and support needed to grow and invest in our team, while preserving the client experience that defines SHP.”
“SHP is a team that has already built meaningful scale and is still hungry to grow,” Jayaraman said in the news release. “That’s what makes this an acceleration story, as opposed to a transition story.”
He added, “SHP’s founders are seasoned leaders in the prime of their careers, still deeply engaged in their business, with decades of success yet ahead. Bluespring is designed for firms just like this: teams on a strong growth trajectory, energized about securing their clients’ financial legacies, and looking for opportunities to expand their impact.”
Turkey Hill Management served as financial advisor to SHP in connection with the acquisition, Bluespring said.
“This deal exemplifies the type of partnership that Bluespring looks to execute, and that’s with entrepreneurially-minded owners who are aiming to grow their businesses while maintaining the legacies they’ve built,” Jayaraman told WSR.
Bluespring acquired nine firms in 2025, bringing in over $6 billion in assets under management (AUM), he said.
Last year’s deals included Bluespring’s acquisitions of Kestra Financial-affiliated firm Front Porch Financial in Cranford, New Jersey, and Pittsburgh-based Coghill Investment Strategies, each of which closed in 2025 but were announced last month.
Firms affiliated with Bluespring collectively hold $25 billion in AUM, the firm said. Bluespring has around 450 employees, including advisors, Jayaraman said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
