Clayton-based Buckingham Strategic Wealth plans to merge with San Jose, California-based Loring Ward in a $235 million deal that brings together two of the country’s larger networks of independent financial advisers, Wealth Management reports.
Focus Financial Partners, which owns Buckingham Strategic Wealth and invests in independent wealth management firms, is acquiring Loring Ward and will combine it with Buckingham. The deal is expected to close around the end of 2018, according to a press release from Focus Financial.
Loring Ward brings about $17 billion in assets under management. The combined firm will serve about 300 investment advisers.