Austin, Texas-based Bluespring Wealth Partners today announced that it is acquiring Herndon, Va.-based Hughes Financial Services, a registered investment advisor with more than $500 million in assets under management.
“Bluespring Wealth Partners provides us with the opportunity to remain steadfast in our culture, provide a high level of service to our clients, and stay autonomous as a business while still getting the benefits of a larger firm,” said the Hughes Financial team in a released statement. “In the last four years our firm has doubled in size, and with Bluespring Wealth Partners on our team we can focus on continuing to take our business to new heights.”
Founded in 2009, Hughes Financial Services is led by founders and managing partners Paul Hughes and Scott Hughes with managing partners Patrick Hughes and Berkeley Meredith, according to the release. The firm offers comprehensive, integrated wealth management and planning to a diverse range of clients who include medical professionals, corporate executives and government employees.
Hughes Financial was introduced to Bluespring, a Kestra Financial subsidiary, through existing relationships with current Bluespring firms, according to the release.
“Straightaway, a partnership with Hughes Financial felt like a perfect fit,” said Bluespring Chairman Stuart Silverman in released comments. “Their tight-knit culture and client-centric values are palpable, not to mention the team’s strong work ethic, which has led the firm to impressive growth. By leveraging our extensive tools and resources, we look forward to helping the team at Hughes Financial get back to spending time providing premier service to their clients.”