Buckingham Strategic Wealth merges with Colony Group, creating a powerhouse in wealth management

What started as a simple one-page business plan with modest goals has now turned into a major success story for Buckingham Strategic Wealth. The money management firm, founded by four partners 30 years ago, recently announced a merger with Boston-based Colony Group that will create a firm overseeing more than $50 billion in client assets.

With this merger, Buckingham will become one of the nation’s top 10 wealth-advisory firms, managing assets well over $100 billion when including a sister firm that handles money for independent advisers. The growth and success of Buckingham Strategic Wealth have far exceeded the founders’ initial expectations, with CEO Adam Birenbaum expecting even further expansion in the future.

The merger is part of a larger trend in the industry, with private equity firm Clayton, Dubilier & Rice, which acquired Focus Financial Partners last year, looking to consolidate the 92 firms under its umbrella. This move is seen as an opportunity for growth and innovation in the wealth management sector.

Despite the emphasis on size and scale, Birenbaum reassures that the entrepreneurial spirit that has driven Buckingham’s success will remain intact. The merged firm will have 1,200 employees, with Birenbaum leading the combined entity and likely adopting a new name reflecting the Focus brand.

While the merger will bring changes, including the departure of key figures like Larry Swedroe, Buckingham’s chief research officer, the company remains focused on providing value to its clients and creating a unique organization for its employees.

As the merger is set to close on July 1, Birenbaum’s goal is clear: to leverage the benefits of scale while maintaining the company’s core values and culture. With a strong foundation built on working with nice people, adding value to clients’ lives, and having fun, Buckingham Strategic Wealth is poised for continued success in the wealth management industry.