Focus Financial Partners—a leading partnership of fiduciary wealth management firms and related financial services firms—announced that it has entered into a definitive agreement under which Pittsburgh-based Focus partner Fort Pitt Capital Group will join fellow Focus firm Kovitz Investment Group Partners. This deal is expected to close in Q4 of 2024, subject to customary closing conditions.
Fort Pitt – which joined Focus as a partner firm in 2015 – has a team that has been focused on delivering comprehensive financial advice to clients for nearly three decades. And Fort Pitt has a holistic approach to fiduciary wealth management and is committed to providing clients with outstanding service and tailored portfolio management solutions.
Through this deal, Fort Pitt will access Kovitz’s extensive suite of tools and expanded investment capabilities. Kovitz will be joined by Fort Pitt’s talented leadership team and growth-oriented advisors. Upon completion of this deal, Fort Pitt is expected to add approximately $5.9 billion, measured as of June 30, 2024, to Kovitz’s regulatory assets under management.
KEY QUOTES:
“Since 1995, our team has grown tremendously in both the employees we support and the clients we are fortunate to serve. Becoming a part of Kovitz will be the latest milestone in our ongoing mission to expand and enhance our capabilities, which will enable us to better meet the complex and evolving needs of our clients.”
-Theodore Bovard, Founding Partner and CEO of Fort Pitt
“At its core, Fort Pitt is a firm committed to putting its clients first; and this key tenet of their business has helped them attract top talent that excels in delivering meaningful investment and financial planning services. We are thrilled to have this talented team join our firm and look forward to gaining access to even more capabilities and expertise for our own clients.”
-Mitchell Kovitz, CEO of Kovitz and Vice Chairman of Focus
“Fort Pitt and Kovitz are two firms that have long, proven track records of client service excellence. We are excited about what their teams will accomplish together as they expand Kovitz’s presence nationally and into the Pennsylvania wealth market.”
-Michael Nathanson, CEO of Focus
