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Buckingham Acquires $600M RIA WealthQuest

March 8, 2018

Buckingham Strategic Wealth continues acquiring RIAs, most recently bringing on the $600 million WealthQuest Financial Services of Norfolk, Va., InvestmentNews writes.

The companies didn’t announce the terms of the deal, according to the publication. Last month, Buckingham — which is at least 75%-owned by Focus Financial, according to SEC filings — acquired Deerfield, Ill.-based Stevens Wealth Management, which oversees $350 million, InvestmentNews writes. Buckingham now has over $12.6 billion under management or administration, according to the publication.

Separately, CJM Wealth Management has joined the Dynasty network of advice firms, according to a press release from Dynasty Financial Partners. The Deer Park, N.Y.-based independent RIA founded 15 years ago by Charles Massimo, currently CJM’s CEO, manages over $400 million, according to Dynasty.

CJM plans to use its affiliation with Dynasty to build its business through mergers and acquisitions and bolster its practice management through streamlining operations as well as marketing and branding, according to the press release.

“As an independent firm for fifteen years, we provide a level of expertise and a suite of services that truly caters to our clients’ unique needs,” Massimo says in the press release. “Now, working in partnership with Dynasty Financial Partners, we want to provide a greater depth of expertise and solutions to our clients.”

By Alex Padalka
  • To read the InvestmentNews article cited in this story, click here.