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.
With one estimate pointing to just a quarter of American adults having a will in place, advisors have an opportunity to audit their books for painful probate court processes just waiting to happen.
Advisors previously with UBS, Edward Jones head for new firms.
Principal Financial Group’s Teresa Hassara shares data showing account balances rising and Roth adoption accelerating.
Trevor Uhls was charged with wire fraud and money laundering in a criminal complaint filed in U.S. District Court for the Western District of Missouri.
The multigenerational Cedar Rapids firm is joining through a key OSJ as recruiting competition heats up across the wealth space.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
