Convergent Financial Strategies to Join Focus Partner Firm Buckingham Strategic Wealth, Creating a New Presence in Philadelphia Wealth Market
Focus Financial Partners (NASDAQ:FOCS) announced its agreement for Convergent Financial Strategies, a fee-only wealth management firm, to join Buckingham Strategic Wealth. This strategic acquisition aims to enhance Buckingham's service offerings and establish a stronger foothold in the Philadelphia market. The transaction is expected to close in Q1 2023, pending customary conditions. Both firms share a commitment to personalized wealth management, integrating comprehensive services such as tax planning to better serve clients in the region.
- Acquisition of Convergent Financial Strategies enhances Buckingham's service offerings.
- Strategic move strengthens Focus's presence in the Philadelphia wealth market.
- Convergent's expertise in tax planning complements Buckingham's existing services.
- None.
NEW YORK, NY / ACCESSWIRE / December 23, 2022 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Convergent Financial Strategies LLC ("Convergent"), a registered investment adviser based in Plymouth Meeting, PA, will join Focus partner firm Buckingham Strategic Wealth, LLC ("Buckingham" or "Buckingham Strategic Wealth"). This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
Convergent Financial Strategies is a fee-only wealth management firm that services clients by combining goals-based financial planning and investment solutions along with tax planning and preparation. Convergent is guided by fiduciary standards and delivers advice that is tailored to client's unique circumstances, goals and objectives.
"Our connection with our clients differentiates us from other firms," explained Convergent's Managing Director of Financial and Tax Planning Alan M. Schapire. "By developing personalized, long-lasting relationships, we help support our clients' lives beyond just their investments."
"Buckingham and Convergent share tremendous synergies," said Adam Birenbaum, CEO of Buckingham Strategic Wealth. "Just like us, they are dedicated to providing clients with a high-touch, personalized experience every step of the way. Their tax preparation and planning expertise is a great addition to Buckingham's wealth of knowledge. We are thrilled they will be utilizing Buckingham's resources, thought leadership and comprehensive services to further serve clients throughout the greater Philadelphia area."
"We are excited that Convergent will join Buckingham, creating a foothold in the Philadelphia wealth market," said Rudy Adolf, CEO and Chairman of Focus. "This transaction is an excellent demonstration of our ability to successfully support our partners' sub-acquisition strategies through adding two seasoned advisors to support future growth."
About Focus Financial Partners Inc.
Focus Financial Partners Inc. is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.
About Buckingham Strategic Wealth, LLC
Buckingham Strategic Wealth, LLC helps individuals, families, businesses, trusts, nonprofits, retirement plans and medical practice owners achieve their most important life and financial goals by creating customized, comprehensive, evidence-based financial plans. Buckingham's investment philosophy is rooted in an academic approach tailored to address each client's willingness and ability to accept market risk. As a registered investment adviser, Buckingham has a fiduciary obligation to its clients. Buckingham's investment approach centers on modern portfolio theory implemented through passively managed mutual funds and the firm's fixed income portfolio design and execution capabilities. Headquartered in St. Louis, Buckingham has 47 offices across the country. For more information, visit www.buckinghamstrategicwealth.com.
Cautionary Note Concerning Forward-Looking Statements
This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are, and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.
Investor and Media Contacts
Tina Madon
Senior Vice President
Head of Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-813-2909
tmadon@focuspartners.com
Charlie Arestia
Vice President
Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-560-3999
carestia@focuspartners.com
SOURCE: Focus Financial Partners
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