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Focus Affiliates Kovitz, Fort Pitt Capital Merge

Focus Affiliates Kovitz, Fort Pitt Capital Merge

Focus Financial Partners Inc. announced that $5.9 billion Pittsburgh-based RIA and Focus partner firm Fort Pitt Capital Group, LLC will be acquired by Chicago-based and fellow Focus firm Kovitz Investment Group Partners, LLC for an undisclosed amount. Fort Pitt joined Focus as a partner firm in 2015. The transaction is expected to close in the fourth quarter of 2024.

Fort Pitt will gain access to Kovitz’s suite of tools and investment capabilities. Kovitz will be joined by Fort Pitt’s leadership team and advisors.

“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.”

In January, Focus acquired Kovitz’s management to establish it as a hub firm. In July, the firm transformed its partner RIAs, The Colony Group and SCS Financial, into hub firms.

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Focus Financial Partners Inc.Kovitz Investment Group Partners, LLC. Fort Pitt Capital Group, LLC

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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