Buckingham Strategic Wealth to Acquire RIA Firm in Oregon

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Focus Financial Partners says it has entered into an agreement for Grecu Capital Management to join its partner firm Buckingham Strategic Wealth.

Grecu takes an investment approach based on academic research and provides fee-only independent financial planning and wealth management services to high-net-worth individuals, business owners, executives and medical professionals, according to Focus.

The registered investment advisor firm was founded in 2002 in Roseville, California by Lex Grecu, who relocated to Bend, Oregon in 2020, Focus says.

Buckingham, meanwhile, is led by chief executive officer Adam Birenbaum, who’s based in St. Louis. Also part of the team is Reston, Virginia-based Michael Kitces, head of planning strategy at the firm and industry blogger.

“Access to Buckingham’s enhanced services and breadth of wealth management capabilities will enable me to enhance my clients’ experience. I look forward to joining Buckingham’s existing team in Bend, and I believe we can do exciting things together for years to come,” Grecu said in a statement.

The transaction demonstrates how Focus identifies “attractive merger candidates, with advisors of Lex’s caliber, to help our partner firms enhance their growth and expand their geographic reach,” Focus founder, chief executive officer and chairman Rudy Adolf said in a statement.

“This is a strategic transaction that will provide Buckingham with an excellent opportunity to expand its Bend presence, a thriving city that is becoming central to the independent wealth management market in the Pacific Northwest,” Adolf added in a statement.

The transaction is expected to close in the third quarter of 2022, according to Focus. The companies didn’t disclose the terms of the deal.

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