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David Canter of Fidelity

Industry Spotlight > RIAs

David Canter to Join Kestra’s Bluespring as President

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What You Need to Know

  • Canter will lead growth strategy, including M&A and organic growth, according to the firm.
  • Fidelity said Tuesday that Canter would step down as head of its RIA segment at the end of this month after five years in that role.
  • Canter, who also worked at Schwab, will join Bluespring in August.

David Canter has been tapped to become president of the RIA Bluespring Wealth Partners, a unit of Kestra Holdings.

Canter will join Bluespring in August, replacing Stuart Silverman, who will move to a newly created role of chairman at the Kestra division. The Austin, Texas-based firm says it’s “focused on the acquisition and support of the industry’s premier wealth management firms,” according to a statement.

The news comes two days after Fidelity Investments said Canter would step down as head of its RIA segment at the end of this month after five years in the role.

Kestra Holdings has 2,400 financial professionals with $146 billion in assets under administration and $60 billion in assets under management. Bluespring has completed six acquisitions so far in 2022, expanding its “reach and presence throughout the U.S.,” it said.

“Canter will lead Bluespring into its next phase of growth, taking over day-to-day leadership including M&A, firm strategy, and organic growth,” Bluespring said, adding that he will become a member of the Kestra executive team, reporting to James Poer.

Canter’s Career So Far

He is set to join Bluespring after more than a decade at Fidelity Institutional, most recently leading its RIA and Family Office segment. Canter has been with Fidelity since September 2009, when he joined the company as executive vice president, Practice Management & Consulting, Fidelity Clearing & Custody.

In March 2017, he shifted to head of the RIA segment and remained an executive vice president. Prior to Fidelity, Canter served as chief legal and compliance officer at Post Advisory Group from October 2008 through August 2009, according to his LinkedIn profile.

Before that, Canter was with Charles Schwab from 2000 to 2008, first as vice president at Schwab Institutional and then head legal counsel of Schwab Institutional.

“I am excited to join Bluespring and build on the success of Stuart and the entire team,” Canter said in a statement. “Working in an entrepreneurial environment that prizes the individuality and independence of RIAs and wealth management firms in a supportive environment is energizing.”

He added: “I look forward to collaborating with our partner firms, the team, and Stuart as we continue to expand the Bluespring footprint.”

Silverman will help David “onboard” and “continue to support the growth of Bluespring and its member firms by remaining culturally focused and supporting the M&A efforts,” the company said.

(Pictured: David Canter)