Bluespring Wealth buys wealth management firm Security Financial Management
Bluespring Wealth Partners, a subsidiary of Kestra Holdings, has acquired Security Financial Management, a wealth management advisor in Florida and Minnesota, for an undisclosed price.
Founded more than three decades ago by Dave Allen and Frank Lovaglio, Security Financial Management has over 15 financial professionals. It has three offices in Florida and one in Minnesota to cater to high-net-worth individuals and families with a suite of wealth management services.
Security Financial Management is said to have more than $950 million in assets under management.
Bluespring Wealth Partners acquires wealth management firm Security Financial Management. Photo courtesy of ds_30 from Pixabay.
Frank Lovaglio said: “We are incredibly proud of our team and the organization that we have built over the last 30 years.
“We are partnering with Bluespring Wealth Partners because we are ready for an exciting new chapter, which will enable Dave and I to focus on the things we enjoy most ― working with clients and building the business.”
Bluespring Wealth Partners is involved in acquiring and partnering wealth management firms. The acquisition of Security Financial Management is its third this year after Cincinnati-based Ritter Daniher Financial Advisory and Chicago-based Hedeker Wealth.
Stuart Silverman — President of Bluespring Wealth Partners said: “Dave, Frank, Mike, and Keith are a powerful management team who have an incredible depth of client relationships and engagement.
“They have assembled an outstanding team of advisors, who we’re excited to work with and continue investing in heavily.”