Kovitz Investment Group acquires Northern Capital Management

Kovitz Investment Group acquires Northern Capital Management
Kovitz, which pushes beyond $4 billion under managment with its second deal of the year, is part of the network of Focus Financial Partners.
NOV 26, 2018

Chicago-based registered investment adviser Kovitz Investment Group announced Monday it is acquiring Northern Capital Management, a Madison, Wisc. -based RIA with $544 million under management. The deal, which will close early next year, marks the second acquisition of the year for Kovitz, which has grown to more than $4 billion since its founding in 2003. In August, Kovitz announced its acquisition of AFAM Capital, which has approximately $1 billion under management. eals represent sub-acquisitions for Focus Financial Partners (FOCS), which raised $565 million through an initial public stock sale in July. During both of Focus' earnings calls since going public, chairman and chief executive officer Rudy Adolf said there are about 500 suitable RIA partner firms that could potentially join the 60 firms now making up Focus' partner network. Regarding the latest Kovitz deal, Mr. Adolf said, "With our M&A expertise and value-added program, we expect continued excellence from the Kovitz team." "As I recently mentioned, Focus is working on more opportunities than in any other time I can remember," he added. "We anticipate having a number of similar announcements in the weeks ahead." Year to date, Focus has closed eight direct transactions and 16 mergers by partner firms.

Latest News

Am I stuck? Rethinking career mobility at every stage
Am I stuck? Rethinking career mobility at every stage

Why advisors at every stage may have more leverage, flexibility, and strategic options than they realize.

Advisor moves: $1B Stifel team joins Raymond James, Southern Ridge picks Osaic
Advisor moves: $1B Stifel team joins Raymond James, Southern Ridge picks Osaic

A California team with four decades of combined experience and a Kentucky father-son practice headline this week's advisor movement.

AI in wealth management: budgets surge but ROI remains elusive
AI in wealth management: budgets surge but ROI remains elusive

From generative AI on trading desks to personalized portfolio tools, financial firms are spending big on AI, but measuring returns is proving harder.

Arax acquires $3B RIA Transcend Capital in seventh deal of 2026
Arax acquires $3B RIA Transcend Capital in seventh deal of 2026

The fast-growing RIA aggregator adds Transcend Capital Advisors, a multi-state firm with more than 1,000 client relationships.

As layoffs commence, Commonwealth’s digital guru jumps ship
As layoffs commence, Commonwealth’s digital guru jumps ship

Christopher Blotto moved this month to Janney Montgomery Scott.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

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