Parthenon Capital, a Chicago-based private equity firm, has entered into an agreement with RSM US, a diversified tax and consulting firm, to acquire Minneapolis-based RSM US Wealth Management, the firm’s registered investment adviser.
The advisory firm, which manages $7.46 billion, will be renamed Choreo, Parthenon said in a release.
The target date for the completion of the acquisition is Feb.18. Terms of the transaction were not disclosed.
Larry Miles, who served for a year as president and CEO of Freestone Capital Management and was formerly a principal of AdvicePeriod, will become Choreo’s CEO.
"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.
Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.
Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.
Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.
The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
