Buckingham Wealth Partners, a partner firm of Focus Financial, says it is buying registered investment advisor RNP Advisory Services for an undisclosed sum. Based in Silicon Valley, RNP works with about $425 million of assets.
RNP was started by Carl Reinhardt, who formed the fee-based wealth group Reinhardt Werba Bowen (or RWB) with Alan Werba and John Bowen several decades ago.
Their firm later became part of Loring Ward, a turnkey asset management platform, which merged with a unit of Buckingham in 2018 for $235 million. (RNP also was a client of Loring Ward and remained a client of Buckingham Strategic Partners after the deal.)
“With two sons now at Buckingham — along with leaders at Buckingham I have known professionally for many years — I know that RNP is in good hands,” according to Reinhardt, who is retiring. “I thank everyone who has helped and trusted me — and made the last 45 years for me both rewarding and fun.”