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.
Firms continue their quest to attract and retain the best advisor teams.
A survey from TacticalMind AI found 69% of advisors say a high-quality AI platform that makes investment recommendations and constructs portfolios is worth $500 monthly, while research-only tools are valued closer to $250.
The alts tech provider's latest integration lets advisors query fund data and surface portfolio insights without leaving their primary workspace.
The regulator is scrutinizing how some firms oversee concentrated positions in complex "worst-of" notes – and wants answers.
Meanwhile, Carson Group fully integrates a decades-old practice in Phoenix, Arizona, and Triad Wealth touts its 5x growth to hit a $2 billion milestone.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
