Bluespring Wealth Partners LLC, the Austin, Texas-based subsidiary of Kestra Holdings., has acquired Hedeker Wealth LLC, the companies said in a news release.
Hedeker Wealth is headquartered in Chicago and manages over $350 million in client assets. Founded in 2002 by Dean Hedeker, an attorney, certified public accountant (CPA), and wealth advisor, his namesake firm provides clients with a holistic approach to wealth planning and investment management that incorporates tax and estate planning services.
Financial details of the transaction were not disclosed.
Hedeker, an industry veteran with more than three decades of experience, said in the news release that in performing his due diligence, he was looking for the right fit in potential partners he researched. With Bluespring’s emphasis on succession planning for advisors, Hedeker decided he had found his new partner.
“With Bluespring Wealth, our client agreements, investment management, and financial planning approaches remain unchanged, ensuring a seamless transition for clients,” Hedeker said in a prepared statement. “I now have more time to spend with clients and to mentor younger advisors with many back-office functions off my plate.”
Stuart Silverman, president of Bluespring Wealth, praised the Hedeker team, which he said had many of the qualities his firm looked for in a partner, too.
“Hedeker Wealth has a long history of strong client relationships, exceptional client service, and an outstanding team,” Silverman said in the news release. “Dean is also a great cultural fit who proved quickly that he would be an excellent partner, helping to drive growth well beyond his current footprint especially as we work to integrate another advisor into the firm.”
Bluespring Wealth will provide personalized support as Hedeker seeks to identify and onboard next-generation advisor talent, the release said.
Founded in 2019, Bluespring Wealth operates as Kestra Financial’s RIA aggregator and wealth management firm-acquisition business.