Buckingham Wealth Partners said it will acquire RNP Advisory Services, a Morgan Hill, Calif-based registered investment adviser managing $424 million in assets.
RNP, which is joining Buckingham’s Strategic Wealth business, was founded by Carl Reinhardt, who has had long-time ties to Buckingham. His son, Erich, currently leads an advisory team at Buckingham Strategic Wealth.
In addition, Carl Reinhardt was a co-founder of Reinhardt Werba Bowen, which later became Loring Ward and merged with Buckingham in 2018. RNP was a client of Loring Ward and continued as a client of Buckingham Strategic Partners, which provides support services to RIAs, after the merger.
RNP’s three advisory professionals and two staff members will become part of the Buckingham team upon completion of the transaction, which is expected to close before the end of June. Upon closing, Carl Reinhardt and his wife, Gerrie, plan to retire.
[More: Kitces switches advisory firm]
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
