Choreo, a Chicago-based registered investment adviser with $11.8 billion in assets, has agreed to acquire Enso Wealth Management, a Petaluma, California-based RIA with approximately $1.8 billion in assets, in a deal that expands Choreo's West Coast footprint.
Enso has 13 advisers and nine support staff, who will work under the Choreo brand once the transaction is completed.
Jim DeCota, Enso’s co-founder and president, will assume the role of managing director, Choreo said in a release.
In February, Choreo’s management team, a group of its advisers and Parthenon Capital purchased the company from RSM US, a large CPA firm.
The deal for Enso is Choreo's first as an independent company. The purchase, the terms of which were not disclosed, is expected to close before the end of the year.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
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