Focus Financial Partners, an international partnership of independent, fiduciary wealth management firms, has acquired stake in Northbrook, Illinois-based wealth adviser Relative Value Partners (RVP), which has over $1bn in asset under management.
RVP has a team of seven investment professionals and serves its high-net-worth (HNW) client base of entrepreneurs and Wall Street executives.
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Post acquisition, RVP will seek to expand its capabilities through strategic hires and acquisitions, Focus Financial said.
The addition of Relative Value Partners brings to three the number of firms that have affiliated with the Focus Financial in Chicago’s highly-fragmented RIA market.
Rudy Adolf, founder and CEO of Focus, said: "Focus has seen strong deal momentum in 2015 as high performing, entrepreneurial firms seek to enhance, grow and build continuity into their businesses.
"Our M&A expertise and value-add programs combined with our almost unparalleled access to capital lends us a unique advantage in attracting high-caliber firms such as these."
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By GlobalDataRelative Value Partners was founded in 2004 by Maury Fertig and Bob Huffman, who previously held senior positions at CitiGroup/Salomon Brothers and each has over 20 years of industry experience.
