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.