Kovitz set to exceed $24B AUM as new combination is announced

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.”