M and A
US Wealth Sector Acquirer Buys $500 Million Indiana Business
The acquired organization has been running for 25 years. The deal is part of a continuing M&A trend affecting the North American wealth sector.
Bluespring Wealth Partners, a US acquirer of wealth firms, has bought Shelton Financial Group, a $500 million business run out of Fort Wayne, Indiana.
The company’s investment business will switch to Bluespring’s affiliated wealth management platform, Kestra Financial.
Financial terms weren’t disclosed, Bluespring said in a statement yesterday.
Shelton is led by president and founder Jeff Shelton. The team has operated for 25 years. Shelton is supported by financial professionals Nathan Shelton and Matt Fry who focus respectively on providing faith-based investments, financial planning solutions, and financial planning for working-class families.
“For us, joining Bluespring and partnering with Kestra Financial felt like a smart way to plan for a transition to our next generation of leaders while ensuring our culture and values remain intact,” Shelton said.
Bluespring Wealth Partners is a subsidiary of Kestra Holdings.
This news service’s US correspondent, Charles Paikert,
has written about trends in the North American M&A sector
for the first six months of 2024.
