RNP Advisory Services to Join Focus Partners

RNP is a long-term client of Focus’s other business line, Focus Strategic Partners, which provides support services to independent registered investment advisors (“RIAs”).

RNP’s group of advisory professionals will become part of the Focus team upon completion of the transaction, expected to close in the second quarter of 2020. Upon closing, Carl and Gerrie Reinhardt plan to retire after more than 45 years in the financial services industry.

Based in Morgan Hill, California, RNP offers investment advisory and financial planning services to high-net-worth and other individuals, businesses, retirement plans and charitable institutions.

“Carl was among the very first in our industry to move toward a fee-based model,” said Adam Birenbaum, Chairman and Chief Executive Officer of Focus. “Over the past four decades, he has been true to our holistic approach to client care, which makes RNP an excellent cultural match for Focus. We are honored that Carl has trusted us with his team, his clients and his legacy.”

Wealth advisors Daniel Newquist, Matthew Reinhardt (Carl’s son) and Daniel May are joined by Tracy Newquist and Karina Kingman, who will all operate under the Focus Partners name. Carl’s son Erich Reinhardt is currently an Advisory Team Leader at Focus Partners.

“Given the current environment, our ability to continue attracting and partnering with top advisory firms like RNP speaks both to our long-term strategy of being an industry destination of choice for top talent, as well as our financial strength and robust operating infrastructure,” said Justin Ferri, Chairman of Focus Partners.

“Similar to how we build financial plans designed to weather events like we’re experiencing today, we have also built our business in a way that allows us to take a long-term view on what’s best for our advisors and our clients. Despite the current market disruption, we continue to invest in our capabilities so that we can help more clients confidently realize their financial goals,” Ferri added.

The RNP team will continue in its Morgan Hill headquarters, as well as an office in Los Gatos, California and satellite offices in Salinas and Fresno, California.

“My goal for RNP was to merge with a firm that shares our philosophy of high-touch, high-quality service to investors who, in many cases, start as clients and become long-term friends,” said Carl Reinhardt, Chairman & Chief Investment Officer of RNP. “I know Focus will protect what we have built and take service to the highest levels in the future. I am delighted to have reached this agreement on behalf of my team and RNP’s clients.”

After graduating from Fresno State University with a degree in marketing, Reinhardt entered the financial services industry in 1969 first at an insurance company in the employee benefits department and later as an investment planner utilizing mutual funds.

His belief that the industry should move toward a fee-based, comprehensive planning approach led him to co-found Reinhardt Werba Bowen (RWB). That firm later became Loring Ward, which merged with Focus in 2018. RNP was a client of Loring Ward and continued as a client of Focus Strategic Partners after that merger.

As a member of the community, he has donated his time to helping other advisors, supporting various Catholic charities, and was deeply involved in Rotary International.

“With two sons now at Focus – along with leaders at Focus I have known professionally for many years – I know that RNP is in good hands,” said Reinhardt. “I thank everyone who has helped and trusted me -- and made the last 45 years for me both rewarding and fun.”

For more information on how Focus partners with top advisors, please visit www.PartnerWithFocus.com.

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