Newman Schimel enters agreement to join Focus partner firm Kovitz

Focus Financial Partners entered into a definitive agreement under which Newman & Schimel, a registered investment adviser based in Deerfield, IL, will join Chicago-based Focus partner firm Kovitz Investment Group Partners. This transaction is expected to close in the first quarter of 2023, subject to customary closing conditions. Founded in 2006 by Jack Newman and Bryan Schimel, Newman Schimel is a full-service wealth manager that provides high net worth and ultra-high net worth individuals, including professional athletes, with investment management and retirement planning services. The transaction will expand Kovitz’s greater Chicago area presence, add to their bench of advisory talent and provide inroads with the niche athlete client segment. Kovitz will offer Newman Schimel clients access to a wider range of wealth management services, including family office services, and Kovitz’s deep investment management expertise across asset classes, while also allowing the Newman Schimel team to utilize Kovitz’ robust operational infrastructure and scale.