AUSTIN, Texas--(BUSINESS WIRE)--Bluespring Wealth Partners, LLC, an industry-leading acquirer and partner of best-in-class wealth management firms, today announced its acquisition of Dallas-based CD Wealth Management, LLC, forming a wealth management hub in North Texas that will help both companies grow through thoughtful investments.
Founded by Principal and CEO Scott Cohen in 2014, CD Wealth Management traces its roots to Waldman Bros, a family-run institution started in Dallas in 1939. The team, also led by Chief Investment Officer Andy Dropkin and Chief Wealth Management Officer Ilona Friedman, offers personalized financial planning and wealth management for families, corporate executives, closely held businesses, and not-for-profit institutions. The financial professionals of CD Wealth Management collectively manage over $850 million in assets and were ranked 18th in the Forbes Best-in-State Wealth Advisors list for 2021.
“No matter how well our business is doing or how fast it is growing, we are always striving for improvement,” said Cohen. “We are entirely focused on delivering wealth planning that transforms our clients’ lives, and our alignment with Bluespring Wealth Partners gives us more scale to make that happen.”
The company will continue doing business under the CD Wealth Management name, and its founder and partners will maintain a significant equity interest in the partnership.
CD Wealth Management is associated with Bluespring Wealth Partners’ sister company, Kestra Financial, which honored CD Wealth with the Kestra Ascend 2020 Outstanding Practice Award. Bluespring Wealth Partners plans to further support the firm’s growth through strategic mergers and acquisitions across Texas and by maximizing the firm’s unique ability to serve a wide range of demographics.
“CD Wealth Management’s highly motivated team has built an exceptional reputation because of the company’s culture and its client-first focus on results,” said Stuart Silverman, President of Bluespring Wealth Partners. “We’re excited to add more from Kestra Holdings’ ecosystem of resources and capabilities to CD Wealth’s operations as a model for innovation in wealth management.”
Bluespring Wealth Partners’ investment in CD Wealth Management will provide the team with access to resources and unparalleled expertise to fuel growth and continued innovation in client service. CD Wealth Management will use Bluespring Wealth Partners’ back-office support and operational insights to afford its leaders more time with their valued clients.
“We believe in the power of independence when it comes to wealth management, so it was important to us to find a partner that would allow us to remain autonomous while complementing our expertise,” added Cohen. “With Bluespring Wealth Partners’ institutional support, we will continue to retain our clients with best-in-class service, and we will add more tools, research capabilities, and sophistication to our work.”
With the CD Wealth Management partnership, Bluespring Wealth Partners has completed its fourth acquisition of 2022; the company completed five transactions in all of 2021.
About Bluespring Wealth Partners, LLC
Through a highly customized and people-centric approach, Bluespring Wealth Partners is dedicated to the acquisition and support of the industry’s premier wealth management firms. In partnering with best-in-class wealth advisors and their teams, Bluespring Wealth Partners looks to perpetuate and enhance the value that they bring their clients, providing continuity and new opportunities in the process. Bluespring Wealth Partners was established with the express purpose of helping entrepreneurs take their business to the next level of growth through successor identification and training, industry-leading consulting and operational resources, flexible ownership arrangements, and institutional capital support.
By focusing on partnership as the driver of success, Bluespring Wealth Partners empowers wealth management firm owners to elevate their business without sacrificing their entrepreneurial spirit, founding principles, and long-term vision.
Bluespring Wealth Partners is a subsidiary of Kestra Holdings.
For more information about Bluespring Wealth Partners, please visit www.bluespringwealth.com.
For more information about CD Wealth Management, please visit www.cdwealth.com.
Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS.
