Buckingham Strategic Wealth LLC announced that it has acquired Grecu Capital Management, a registered investment advisor located in Bend, Ore., according to a news release.
The transaction is expected to close in the third quarter, subject to customary closing conditions. Financial terms were not disclosed.
Grecu was founded in 2002 by Jerrold "Lex" Grecu. The firm offers financial planning and wealth management services to business owners, executives and medical professionals, the release said, noting that, like Buckingham, the firm uses an evidence-based investment approach based on rigorous academic research.
According to its latest Form ADV, Grecu reported managing $191.6 million in assets as of March.
Lex Grecu, who serves as president, wealth advisor and director of investment strategy, will move into Buckingham’s office in Bend, which opened in January 2021 after Buckingham acquired Griffon Financial Planning Inc., the release said.
Grecu said in a statement that his passion for financial planning is personal. He said after losing his parents at an early age, he “learned the tough lesson of what mismanagement of resources can do to a financial future. Because of that experience, my clients are my first priority, and I am always looking for ways to enhance their experience.” He added, “Buckingham shares this dedication, and I am thrilled to be joining their team after many years of working together.”
Adam Birenbaum, Buckingham's CEO, said Grecu is a natural fit for his firm's culture of teamwork and collaboration and will be a great addition to Buckingham’s growing presence in the Bend community. “We can’t wait to officially welcome Lex to Buckingham. His passion and talent for helping clients shines in every move he makes. As a growing RIA, we are grateful to have Lex on our team,” he said.
Headquartered in St. Louis, Buckingham Strategic Wealth has 45 offices in 22 states. It had more than $22.63 billion in regulatory assets under management as of March 31.