The $2.5 billion Chicago-based wealth management firm Relative Value Partners Group is set to join forces with fellow Focus Financial firm Kovitz Investment Group Partners, with the combined organization expected to manage over $24 billion in client assets.
The transaction was announced this week by Focus Financial, which is a partner and backer of both wealth management firms. It 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, offers comprehensive wealth management services for high-net-worth clients and institutions. Through the transaction, RVP will gain access to Kovitz's client service resources and capabilities in financial planning, investment management and tax planning — as well as its national distribution footprint.
Mitchell Kovitz, CEO of Kovitz and vice chairman of Focus Financial, cited RVP's "talented team with decades of experience" as a key driver of the acquisition.
