Bluespring Wealth Partners has acquired Cincinnati-based Ritter Daniher Financial Advisor (RDFA) for an undisclosed amount.
Established in 1999 by John Ritter and Jeff Daniher, RDFA specialises in financial advice and investment management services.
Go deeper with GlobalData
The firm completed two mergers previously to fortify its foothold in the Cincinnati region.
It currently oversees more than $530m in assets.
Commenting on the deal, Ritter said: “RDFA and Bluespring Wealth share a common view on how to treat clients and foster long-term, meaningful relationships.
“This cultural and philosophical alignment is ultimately what compelled us to partner with them. We look forward to leveraging Bluespring Wealth’s resources and expertise to further enhance our client offering and expand our business both organically and inorganically.”
The partnership with Bluespring Wealth is expected to help RDFA accelerate its growth through sub-acquisitions and mergers across the Midwest region in the US.
Bluespring Wealth president Stuart Silverman added: “Our goal is to build upon their existing financial planning approach, ensure sustainable business growth, and preserve the firm’s well-respected legacy for years to come.”
A subsidiary of Kestra Holdings, Bluespring Wealth Partners focuses on the acquisition and servicing of wealth management firms.
In August this year, the firm acquired Chicago-based Hedeker Wealth, which managed over $350m in assets.
Last year, it purchased Florida-based Retirement Wealth Specialists, following a series of consolidation activities in 2019.
It included the takeover of Hickory Asset Management, Believeland, and Vector Wealth Management.
