Focus Financial Partners announced that Bergman Investment Management, a fee-only registered investment adviser located in San Mateo, Calif., will join Focus-owned Buckingham Strategic Wealth, a trust-based wealth management firm overseeing approximately $22.6 billion. dollars from its 45 locations in 24 states.
Founded by Doug Bergman in 1995, Bergman provides investment advice primarily to high net worth individuals and families and was already a corporate client of Loring Ward, a turnkey asset management platform that merged with Buckingham’s parent company, Buckingham Strategic Partners, in 2018.
According to its latest Form ADV filing, Bergman manages just under $229.5 million in non-discretionary assets for 59 clients.
“My clients have trusted me to help them build their financial future over the years,” Bergman said. “Now is the time for me to plan for the long-term continuity of this trusted trustee board.”
Bergman said his experience with Buckingham’s TAMP gives him confidence that this succession plan will continue to provide his own customers with the level of service they have become accustomed to.
Buckingham CEO Adam Birenbaum said a shared philosophy and culture between the two companies should “result in a seamless transition” for Bergman’s customers, while Focus CEO and Chairman Rudy Adolf boasted. his own company’s experience with succession planning and said the transaction “will enhance Buckingham’s growth. Presence in the Bay Area.”
Bergman will continue its relationship with Loring Ward until the closing of the transaction, expected in the third quarter of 2022.