Texas investment firm acquires Fort Wayne based Shelton Financial
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Austin, Texas based investment firm Bluespring Wealth Partners is entering the Indiana market by acquiring Fort Wayne-based firm Shelton Financial.
Shelton has been operating for around 25 years and manages about $500 million in assets, Bluespring said in a news release.
Bluespring is itself a subsidiary of Kestra Holdings and Shelton will move over to the Kestra Financial platform.
A spokesperson representing Bluespring told Inside INdiana Business that none of Shelton’s 15 or so full-time employees will be negatively impacted.
With the acquisition of Shelton, Bluespring now employs around 300 employees, and this is the company’s first and only operation in Indiana.
In the release announcing the acquisition, Shelton Financial President Jeff Shelton said the move is a good way for the Indiana firm to look to the future.
“For us, joining Bluespring and partnering with Kestra Financial felt like a smart way to plan for a transition to our next generation of leaders while ensuring our culture and values remain intact,” Jeff Shelton said.
Financial terms of the acquisition are not being disclosed.