David Canter Steps Down as President of Kestra's Bluespring

As part of a leadership reshuffling at Bluespring Wealth Partners announced Wednesday, David Canter is stepping down as president and becoming senior strategic advisor at the Kestra subsidiary.

Two days before the announcement last year that Canter was joining Bluespring as president, Fidelity Investments said Canter would step down as head of Fidelity Institutional’s RIA segment and executive vice president at the end of July 2022 after five years in the role. He was with Fidelity for nearly 13 years in all, initially joining the firm in 2009 as EVP of practice management and consulting at Fidelity Clearing & Custody, according to his LinkedIn profile.

Earlier in his career, Canter worked for Charles Schwab, joining that firm in 2000 as vice president of Schwab Institutional Trading & Operations and then shifting to head legal counsel at Schwab Institutional.

The goal of the strategic leadership changes was to empower growth for wealth management firms within Bluespring’s network, it said in a news release.

Bluespring started in 2019 and initially supported eight firms from within the Kestra ecosystem. That network is now made up of 21 brands and 24 firms, with 30 acquisitions to date, it said.

As president, Canter “deepened the value proposition of the company, elevating the brand and building a capable bench of professionals to support the business,” Bluespring said.

That included the recent appointments of two new corporate development vice presidents, Josh Bartholomew and Tom Valverde, who will focus on sourcing potential new partner firms for Bluespring, the firm said.

In his new role as senior strategic advisor, Canter will “continue his positive trajectory, leveraging his industry expertise in strategic service of the business,” Bluespring said. He will also help in the search for a new president of the business unit.

“Elevating my involvement above the day-to-day management of the firm will allow me to focus more strategically on supporting what Bluespring does best — developing financial advisor partnerships that give business owners the flexibility, independence, support and resources they need to succeed,” Canter said in a statement.

Meanwhile, Stuart Silverman, who helped found the business, will serve as chairman and interim business unit leader for Bluespring, temporarily assuming day-to-day leadership responsibilities.

That includes Silverman overseeing the company’s business development and acquisition strategy and his continued involvement in firm relationship management. Canter had replaced Silverman as president last year.

“We are confident that these changes, and the continued support of all leaders mentioned, will help us harness new opportunities for growth,” James Poer, Kestra Holdings CEO said in a statement.

Pictured: David Canter