Focus Financial Partners, a publicly traded and rapidly growing partnership of registered independent advisors, has facilitated another sub-acquisition, with Focus partner Buckingham Strategic Wealth acquiring Dental Wealth Advisors, a Bellevue, Wash.-based RIA with about $140 million in assets.
The transaction is expected to close in the fourth quarter of 2022.
Dental Wealth is a fee-only wealth management firm that caters to dentists and other personnel of dental practices during and after their careers. The firm has been associated with Buckingham since its founding through a partnership with Buckingham Strategic Partners, the firm’s affiliated wealth platform.
“Partnering with Buckingham was a natural choice for us,” said Sam Martin, a senior wealth advisor at Dental, in a statement. “Buckingham will also assume responsibility for our back office advisory functions, so my team and I can focus on what we do best, helping clients achieve their financial and life objectives.”
“We have known Sam for nearly two decades and share many of the same values and principles, consistently putting clients’ interests first and basing our investment and planning strategies on evidence-driven research,” said Buckingham CEO Adam Birenbaum. “We look forward to growing our presence in the Bellevue community.”
“Sam and his team will further expand Buckingham’s growing presence in the Pacific Northwest and supplement Buckingham’s deep-rooted experience serving the specialized financial planning needs of dentists and dental practices,” said Focus founder and CEO Rudy Adolf. “Strategic transactions like these enable advisory teams to benefit from the deep resources and expertise that our partner firms can offer.”
Buckingham’s investment approach centers on modern portfolio theory implemented through passively managed mutual funds and the firm’s fixed income portfolio design and execution capabilities. Headquartered in St. Louis, Buckingham has 45 offices across the country and manages more than $20 billion in client assets.
Since it was founded in 2006, Focus has done more than 250 deals and added 87 partner firms to its ranks. In 2021, the firm reported annual revenue of $1.8 billion; Adolf indicated late last year that he plans to reach $4 billion in revenue and 125 partner firms by 2025.