Kovitz Investment Group is to add another investment advisor firm to its growing footprint, with its assets under management set to exceed $24 billion on completion, based on May 31, 2024 figures.
The Focus Financial firm only recently announced a tie-up with fellow Focus partner firm Institutional and Family Asset Management, LLC, and 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.
Now Focus partner firm Relative Value Partners Group, LLC, founded in 2004 and headquartered in Northbrook, Illinois, will formally join Kovitz, with the transaction expected to close in the third quarter of 2024 subject to customary closing conditions.
“Since our firm’s inception, we have sought out opportunities that allow us to enhance the services and tools we offer clients,” said Robert (Bob) Huffman, co-founder and CEO of RVP. “We have known and respected the Kovitz team for many years, and we believe joining Kovitz is a natural next step in our evolution as a firm. We look forward to providing even more value for our clients as a result of this combination.”
For Kovitz, the addition of RVP’s experienced team adds to its capabilities in financial planning, investment management, tax planning and other key areas.
“RVP is respected by peers and clients alike across the wealth management industry, and we are thrilled to welcome committed leaders who share our values of client dedication and sound investment advice,” said Mitchell Kovitz, Kovitz CEO and vice chairman of Focus. “I am confident that, together, we will deepen our ability to provide clients with best-in-class, highly personalized wealth management experiences and continue to develop into the leading advisory practice in the Chicago area.”
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
