Relative Value Partners to Join Kovitz
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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