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Kestra Financial’s RIA business, Bluespring Wealth Partners, has just acquired a $1.1 billion wealth firm in Minneapolis.

“With nearly three decades of serving clients, the team at Vector Wealth Management is high-quality in every way … ,” said Bluespring President Stuart Silverman, in a statement. “Together, we look forward to preserving Vector Wealth Management’s legacy as an industry-leading RIA.”

Vector is led by Thomas G. Fee, who works with advisors Sharon L. Calhoun, CFP; portfolio manager Jason D. Ranallo, CFA; advisor Tyler J. Schelhaas, CFP; portfolio manager Daniel J. Powers; and advisor Todd C. Stueve.

“Three central questions drove our search for the right partner,” according to Fee. “First, does this partnership serve our clients well? Second, will this benefit the next generation of leadership? Third, does this decision help ensure … [we] will continue serving our clients for decades to come?

“After a long and rigorous process, Bluespring emerged as the best partner for us,” he added. “We are eager to capitalize on the resources and support available … to keep our firm on the leading edge of our evolving industry.”

Bluespring opened its doors in July in Austin. It recently hired: 

  • Brett Gage, mergers & acquisitions specialist, from Goldman Sachs;
  • James Mackiewicz, vice president of strategic growth, from AssetMark; and 
  • Sarah Schilling, channel marketing manager, from Kasasa.

“We’ve experienced rapid growth this year due to the industry’s insatiable need for succession and capital support,” Silverman said last month.