Strategic Wealth Partners to Join Kovitz

By: Focus Financial Partners Inc. via Business Wire

April 02, 2024 at 06:30 AM EDT

Focus Financial Partners Inc. (“Focus”), a leading partnership of fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which its partner firm Strategic Wealth Partners Group, LLC (“SWP”), based in Deerfield, Illinois, will formally join Focus “hub” firm Kovitz Investment Group Partners, LLC (“Kovitz”). This transaction is expected to close in the second quarter of 2024, subject to customary closing conditions.

SWP specializes in delivering wealth strategies, independent advice and personalized service to high-net-worth individuals and families as well as retirement plan sponsors. Upon the completion of the transaction, the newly combined firm is expected to manage over $14.5 billion based on the aggregate February 29, 2024 regulatory assets under management of each firm and is strategically poised to serve high-net-worth individuals, families, and institutions across an expanded footprint, particularly within the greater Chicago area.

“We are continually looking for ways to manage complexity and deliver simplicity for our clients,” said Neal Price, Principal & Co-Founder of Strategic Wealth Partners. “As we evaluated joining forces with Kovitz and becoming an early participant in the Focus hub strategy, we knew it would only work if it was better for our clients, our firm, and our trusted business partners. We have known the Kovitz team on both a personal and professional level for many years, and we are excited about joining a great group of people that are like-minded in their pursuit of delivering an exceptional client experience.”

“Whether they’re seeking advice on retirement, business succession planning, or other wealth strategies, our clients rely on our ability to offer differentiated, tailored advice to help them achieve their life’s goals,” said Mitch Kovitz, CEO and Co-Founder of Kovitz and Vice Chairman of Focus. “Strategic Wealth Partners is a firm I have known and admired for many years, and as we join forces, we’re creating greater opportunities to further enhance the scale of our services and to provide our clients with the outstanding offerings and guidance they expect from their advisors.”

“All Focus firms, including Kovitz and SWP, strive to meet and, whenever possible, exceed the complex, evolving needs of their clients,” said Michael Nathanson, President of Focus. “This powerful union underscores our commitment to, and role in, working with firms dedicated to serving clients to the absolute best of their ability, and I look forward to seeing how it will unlock even greater opportunities and capabilities for everyone involved.”

Following the merger, SWP will continue to do business as Strategic Wealth Partners for a period of time.

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 Financial Partners since 2016. For more information about Kovitz, please visit www.kovitz.com.

About Strategic Wealth Partners Group, LLC

SWP is a wealth management firm with a team that has been partnering with clients since 2008. SWP was created to provide more personalized solutions to clients in an environment that strives to put their interests first. The work on behalf of clients is far-reaching, but it all comes down to managing complexity, delivering simplicity, and helping people reach their goals. Learn more at https://stratwealth.com/.