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Canter Steps Down as President of Bluespring

Just one year after taking the helm at Kestra Financial-backed Bluespring Wealth Partners, David Canter is stepping down from his role as president and transitioning into that of senior strategic advisor, the company announced Wednesday.

Stuart Silverman, the current chairman of Bluespring who served as president before Canter, will take over the day-to-day management of the company on an interim basis. He’ll oversee business development and acquisition strategy, in addition to relationship management. Bluespring will conduct an executive search for a new president.

“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.

Bluespring also appointed Tom Valverde, former chief revenue officer at TIFIN, and Josh Bartholomew, former vice president of marketing at Horizon Investments, as new corporate development vice presidents. The pair will focus on sourcing new partner firms.

Canter made a splash last summer when he announced he was leaving Fidelity Institutional after 13 years with the custodian to lead Bluespring.

Kestra Financial launched its Bluespring Wealth Partners subsidiary in July 2019, aimed at acquiring RIAs looking for a succession planning solution. When Bluespring acquires a company that does not have a succession plan, it places a successor in its ‘Successor Academy,’ an “intensive” two-year program aimed at training second-generation advisors to eventually take over the business.

The firm completed nine acquisitions adding nearly $4 billion in client assets last year and appears to have taken a beat in 2023 to focus on organic growth initiatives. Today, it comprises 24 firms, with 30 acquisitions to date.

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