Buckingham snaps up $400M wealth manager

The Buckingham Family of Financial Services today announced a merger with Wealth Management Consultants LLC.
SEP 19, 2010
The Buckingham Family of Financial Services today announced a merger with Wealth Management Consultants LLC. Both firms focus on using passive investment strategies. Buckingham, which has about $12 billion under management, is a partner with Focus Financial Partners LLC, a consolidator of registered investment adviser firms. WMC manages $400 million for clients. The transaction was arranged with the "guidance and resources" of Focus Financial, Buckingham said in a statement. WMC will maintain its name and continue to be led by co-founder Irv Rothenberg, and financial planners Thelia Eagan and Brent Thomas. "We are looking to create the center of the passive universe at Buckingham,” Adam Birenbaum, a Buckingham principal, said in a statement. Mr. Birenbaum will be succeeding Bert Schweizer as chief executive of Buckingham in January.

Latest News

Investor accuses Canaras, U.S. Bank of hiding $50 million CLO loss
Investor accuses Canaras, U.S. Bank of hiding $50 million CLO loss

A trustee says it has no record of the investor now suing it for $50 million

New bill would let advisers unlock accredited investor status for clients
New bill would let advisers unlock accredited investor status for clients

Legislation seeks to loosen access to private markets to include professional advice from RIAs and broker-dealers, not just income or net worth.

More than a quarter of moms are planning to opt out of Trump accounts, survey finds
More than a quarter of moms are planning to opt out of Trump accounts, survey finds

"I just feel like I can get a lot further [by] opening a 529 account," said one respondent to the BabyCenter survey on Trump accounts.

IRA investors keep rushing toward lower-cost mutual funds
IRA investors keep rushing toward lower-cost mutual funds

New ICI research shows these retirement savers pay expense ratios nearly matching industrywide averages, extending years of fee declines

US household wealth grows more liquid than global peers
US household wealth grows more liquid than global peers

UBS data show American net worth is shifting from property to cash and funds faster than in seven other wealthy nations.

SPONSORED Who builds the income when the pension disappears?

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

SPONSORED Why direct indexing stopped being optional

Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.