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]
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
