Relative Value Partners to Join Kovitz
01 July 2024 - 10:15PM
Business Wire
Focus Financial Partners Inc., a leading partnership of
fiduciary wealth management firms and related financial services
firms, announced today that it has entered into a definitive
agreement under which Focus partner firm Relative Value Partners
Group, LLC, headquartered in Northbrook, Illinois, will formally
join fellow Focus firm Kovitz Investment Group Partners, LLC,
headquartered in Chicago. This transaction is expected to close in
the third quarter of 2024, subject to customary closing
conditions.
RVP, which joined Focus as a partner firm in 2015, is a
comprehensive wealth management firm that specializes in serving
high net worth clients and institutions. RVP has expertise in
crafting portfolio strategies and delivering tailored wealth plans
that help the individuals, families and institutions that RVP
advises. Upon completion of this transaction, the newly combined
firm is expected to manage over $24 billion in client assets
measured as of May 31, 2024.
Through this transaction, RVP will gain access to Kovitz’s
expansive network of resources, capabilities, and national
footprint. RVP will bring a talented team with decades of
experience to Kovitz, and the transaction will allow Kovitz to
further strengthen its advice and solutions across financial
planning, investment management, tax planning, and other key
areas.
“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.”
“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, CEO of Kovitz 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.”
“We are excited to see the talented teams of Kovitz and RVP
collaborating on opportunities to offer elevated advice and
solutions for clients,” said Michael Nathanson, CEO of Focus. “We
are confident that this transaction will help to strengthen their
capabilities, further scale their offerings, and empower clients
with even more ways to achieve their financial goals.”
About Focus Financial Partners Inc.
Focus is a leading partnership of fiduciary wealth management
firms. Focus provides access to best practices, resources, and
continuity planning for its affiliated firms, which serve
individuals, families, employers and institutions with
comprehensive financial services. Focus firms benefit from the
synergies, scale, economics and best practices offered by Focus to
achieve their business objectives. For more information about
Focus, please visit www.focusfinancialpartners.com.
About Kovitz Investment Group Partners, LLC
Kovitz is an investment adviser headquartered in Chicago, IL.
Kovitz provides investment and wealth management solutions to high
net worth individuals, institutions and private funds. Kovitz has
been part of Focus since 2016. For more information about Kovitz,
please visit www.kovitz.com.
About Relative Value Partners Group, LLC
RVP is an investment adviser with origins tracing back to 2004.
Its founders, Maury Fertig and Robert (Bob) Huffman, and the rest
of the team bring an institutional methodology to high net worth
individuals, family offices and small institutions. RVP is a
multi-cap manager that builds well-diversified portfolios using a
disciplined investment approach. For more information, please visit
https://rvpllc.com.
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