Choreo, a Chicago-based registered investment adviser, said it has agreed to acquire Cherry Bekaert Wealth Management, which has roughly $1 billion in assets under management.
Cherry Bekaert Wealth Management is affiliated with Raleigh, North Carolina-based Cherry Bekaert Advisory, and Choreo also announced a strategic relationship with Cherry Bekaert Advisory that will allow the firms to “align go-to-market and acquisition opportunities” to foster the growth of both firms.
The acquisition of Cherry Bekaert Wealth Management brings Choreo’s assets under management and advisement to roughly $14.5 billion. The deal also expands the firm’s footprint in the Southeast.
Terms of the transaction were not disclosed. The deal is expected to close at year-end.
In February, Choreo’s management team, a group of its advisers and Parthenon Capital purchased the company from RSM US, a large CPA firm. Earlier this month, Choreo announced the acquisition of Enso Wealth, a California RIA with $1.8 billion in assets.
Referrals from centers of influence may open the door, but the real key to success for advisors comes from clarity about their ideal clients and where they want to show up.
Three advisor groups overseeing more than $700M in combined client assets head to new firms.
New research finds most Americans fear a US retirement crisis, while skepticism grows toward AI financial advice and crypto in retirement plans.
Getting a client into a fund has never been easier – but after that, the hardest part is yet to come.
A former NYLIFE Securities rep was permanently barred after using internet-enabled glasses to cheat on the Series 6 exam
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
