Focus Monetary Companions introduced Monday that two of its flagship advisory agency companions, Buckingham Strategic Wealth and The Colony Group, will merge as a way to unify their sources and expertise and additional increase their respective capabilities.
Buckingham’s chairman and CEO, Adam Birenbaum, will be the mixed firm’s CEO, in keeping with the announcement. Colony Group CEO Michael Nathanson, who on April 30 was named CEO of Focus, will shift to serve solely as CEO of Focus.
Collectively, the mixed agency will signify practically 1,200 staff throughout greater than 90 workplace areas supporting tens of hundreds of purchasers.
Fashionable trade blogger and speaker Michael Kitces has been head of Planning Technique with Buckingham since March 2020. Jeff Levine — who writes often about tax points on social media — has been the agency’s chief planning officer since January 2021, after becoming a member of the RIA a 12 months earlier.
Buckingham’s sister firm, the turnkey asset administration platform supplier Buckingham Strategic Companions, will proceed to function post-merger underneath Birenbaum’s management. Jonathan Scheid will proceed to be its president.
“This transaction will create an RIA of actually substantial scale and marks a milestone second within the historical past of our trade,” Nathanson stated. “The mixed agency’s scale underscores and accelerates the continued evolution we’re seeing in [wealth management] to domesticate higher alternatives for purchasers and advisors and to supply them excellent capabilities and companies.”