Focus Financial partner firm Institutional and Family Asset Management, LLC, is to join Kovitz Investment Group Partners in a deal which will create a wealth management powerhouse managing around $16 billion.
IFAM has been a partner firm of Focus since 2015 while Kovitz has been part of Focus since 2016 and Michael Nathanson, chief executive officer of Focus Financial, says both have strong track records of delivering top-tier advice to clients.
“We are excited to see these firms come together to further strengthen their businesses and continue equipping their clients and advisors with the support and advanced toolkits required to meet their needs.”
For IFAM and Kovitz the combination will be mutually beneficial with IFAM gaining access to sophisticated tools and resources and Kovitz gaining a team of experienced advisors and experts. Both firms are headquartered in Chicago.
“IFAM’s talented team has extensive experience in offering invaluable knowledge and personalized insights to both individual and institutional clients,” said Mitchell Kovitz, chief executive officer of Kovitz and vice chairman of Focus. “We are thrilled for them to join the Kovitz team, and with IFAM’s differentiated services, we look forward to providing our clients with the leading financial advice they have come to expect.”
Jeffrey Gordon, partner and chief executive officer at IFAM said that joining Kovitz that the move is an important step in the firm’s journey “as it will enable us to access enhanced capabilities that our advisors can leverage to deliver even greater possibilities for clients.”
In April it was announced that Focus partner firm Strategic Wealth Partners Group is set to merge with Kovitz, another milestone in Focus’ ongoing hub strategy.
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
