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.
New Allspring research finds 401(k) participants want guidance on income and rollovers, not just portfolio automation.
Aging homeowners hold record housing wealth - but most advisors still aren't bringing it into retirement plans
$1.7M invested from an inheritance. Then the phone went dead.
The pre-IPO platform sold $430M in units while allegedly rigging prices behind the scenes.
A Nationwide survey finds 47% of GLP-1 users have never discussed the drugs’ financial impact with an advisor, even as many dip into savings.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
