Chicago-based Choreo has agreed to acquire substantially all assets of two Pennsylvania RIAs with a combined $1.3 billion in client assets.
Acquiring Northeast Financial Group and Herbein Financial Group will add 12 full-time employees to Choreo, including six financial advisors. Josh Laychock, who leads both Northeast Financial Group and Herbein Financial Group, will join Choreo following closing which is expected later this year subject to typical conditions.
Choreo CEO Jason Van de Loo said the acquisition aligns with the firm’s focus on serving business owners and complex planning needs.
“Northeast Financial Group and Herbein Financial Group are strong advisory businesses with deep roots in Pennsylvania. We’re excited about our agreement and look forward to welcoming their teams to Choreo upon closing,” he said “They share our focus on business builders and the real-world planning work that comes with running a company, building wealth and preparing for what’s next.”
Laychock cited planning complexity and tax uncertainty as drivers behind the decision to sell.
“Business owners are navigating a more complex planning environment, with tax policy uncertainty, changing markets and higher expectations for integrated advice. Joining Choreo will give our team added scale, broader capabilities and a platform built to deliver coordinated planning without losing the client-first culture we value. We are excited to begin this next chapter after closing.”
Choreo reported serving more than 7,000 clients with approximately $27.2 billion in assets under management and advisement as of December 2024.
Meanwhile, a new wealth and asset management holding company entered the advisory market this week as Ascentis Holdings formally launched, combining three existing firms under one corporate structure.
The Dallas-based organization brings together Ascentis Wealth Management, Ascentis Asset Management and Ascentis Independent Advisors, consolidating advisory, investment and operational services onto a single platform.
The founders describe the move as an effort to centralize infrastructure while preserving advisor autonomy. Ascentis reports it currently supports 43 advisors across 16 states overseeing more than $2 billion in client assets.
The holding company is led by Michael Mansur and Clint Sorenson, who serve as CEOs of the wealth management and asset management divisions respectively. John Nahas leads the independent advisor division, which houses advisors operating under their own brands.
The platform is structured so advisory teams can choose between operating under a shared brand with centralized resources or remaining fully independent while accessing compliance, technology and operational support.
Meanwhile, the asset management division consolidates investment research, portfolio construction and oversight capabilities (including legacy businesses previously run by WealthShield and Golden State Equity Partners) and remains open to external advisory firms as well.
"Ascentis Holdings gives experienced, high-performing advisors the freedom to run their businesses their way, backed by infrastructure that drives a more consistent client experience," said Mansur. "In the end, advisors stay in control, while the platform adds the institutional depth that makes the model durable."
The firm expects to pursue both organic expansion and acquisitions as it scales.
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