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Fort Pitt Capital Group to Join Kovitz

By: Focus Financial Partners Inc. via Business Wire

October 03, 2024 at 08:15 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Focus Financial Partners Inc., a leading partnership of fiduciary wealth management firms and related financial services firms, announced today that it has entered into a definitive agreement under which Pittsburgh-based Focus partner firm Fort Pitt Capital Group, LLC will join fellow Focus firm Kovitz Investment Group Partners, LLC. This transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

Fort Pitt, which joined Focus as a partner firm in 2015, has a team that has been dedicated to delivering comprehensive financial advice to clients for nearly three decades. 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 transaction, Fort Pitt will gain access to 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 transaction, Fort Pitt is expected to add approximately $5.9 billion, measured as of June 30, 2024, to Kovitz’s regulatory assets under management.

“Since 1995, our team has grown tremendously in both the employees we support and the clients we are fortunate to serve,” said Theodore Bovard, Founding Partner and CEO of Fort Pitt. “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.”

“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,” said Mitchell Kovitz, CEO of Kovitz and Vice Chairman of Focus. “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.”

“Fort Pitt and Kovitz are two firms that have long, proven track records of client service excellence,” said Michael Nathanson, CEO of Focus. “We are excited about what their teams will accomplish together as they expand Kovitz’s presence nationally and into the Pennsylvania wealth market.”

About Focus Financial Partners Inc.

Focus is a leading partnership of fiduciary wealth management firms and related financial services 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 since 2016. For more information about Kovitz, please visit www.kovitz.com.

About Fort Pitt Capital Group, LLC

Fort Pitt is an investment adviser that provides trusted, strategic investment and wealth management solutions to both individuals and institutions. Tracing its origins back to 1995, Fort Pitt’s philosophy has remained steadfast: preserve capital while maximizing growth and income. Earning and keeping their clients’ trust is central to the Fort Pitt team. For more information about Fort Pitt, please visit www.fortpittcapital.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241003977281/en/

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