Serrari Group

Kovitz, a leading wealth management firm, is set to exceed $24 billion in assets under management (AUM) following the announcement of a merger with Relative Value Partners Group, LLC (RVP). This move is a significant step in Kovitz’s growth strategy under the Focus Financial Partners umbrella.

The merger with RVP, expected to close in the third quarter of 2024 pending customary conditions, brings together two respected firms in the wealth management industry. RVP, founded in 2004 and headquartered in Northbrook, Illinois, is known for its expertise in financial planning, investment management, and tax planning.

“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.”

This merger follows other strategic integrations within the Focus Financial network. Recently, Focus announced a tie-up between Institutional and Family Asset Management, LLC, and in April, Strategic Wealth Partners Group merged with Kovitz, reinforcing Focus’s strategy of building robust regional hubs.

Mitchell Kovitz, CEO of Kovitz and vice chairman of Focus, highlighted the significance of the merger. “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,” he said. “I am confident that, together, we will deepen our ability to provide clients with highly personalized wealth management experiences and continue to develop into the leading advisory practice in the Chicago area.”

The integration of RVP’s experienced team is expected to enhance Kovitz’s financial planning and investment management services, contributing to the firm’s ongoing growth and ability to deliver comprehensive wealth management solutions.

As Kovitz continues to expand its capabilities and service offerings, the firm remains dedicated to maintaining high standards of client care and investment excellence. The upcoming merger with RVP is a testament to this commitment and is poised to further solidify Kovitz’s position as a top-tier advisory practice in the wealth management industry.

With the closing of this transaction on the horizon, the industry will be closely observing how this merger impacts the continued success and growth of Kovitz.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

3rd July, 2024

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