Two national registered investment advisor firms are to merge creating an entity managing around $11.2 billion.
Curi Capital ($1.6 billion AUM) and RMB Capital ($9.6 billion AUM) will combine as part of a wider deal that sees Curi Holdings Inc. acquire a majority stake in RMB, with the transaction expected to close by the end of the year. Terms have not been disclosed.
Curi’s CEO Dimitri Eliopoulos will be the chief executive officer of the combined Curi RMB Capital. RMB is a firm he knows well having served in several roles there since its inception in 2005, eventually becoming president of wealth management before his move to lead Curi Capital in 2020.
“Returning to work with so many incredible colleagues and friends who have shaped my approach to people, culture and client service, is a dream and an honor,” said Eliopoulos. “This merger sets us up to be a powerful organization with an experienced and passionate leadership team, and a clearly differentiated offering for our clients.”
RMB founding partner and current CEO Dick Burridge will become Curi RMB Capital’s executive chairman and continue as co-chief investment officer. Most of the two firms’ leadership teams will remain along with their 180 employees and there are plans to hire additional staff in 2024.
“As we were looking for a partner, Curi Capital, under Dimitri’s leadership, was an unparalleled fit,” Burridge said. “In just under four years, Dimitri has overseen incredible growth while building a client-centric, values-driven culture. This combination will enable a seamless transition into an exciting new era for our firm. This is an energizing new chapter, but one firmly rooted in our history.”
Curi is a national healthcare advisory firm that serves more than 50,000 physicians, healthcare providers, and organizations across the U.S. and comprises the RIA (Curi Capital) along with Curi Advisory and Curi Insurance.
The wealth management business has been headquartered in Raleigh, North Carolina, and while the office will remain an important location, RMB’s Chicago base will be the new headquarters of Curi RMB Capital.
It recently merged with Constellation Inc., another leading provider of medical professional liability insurance with the combined entity operating under the Curi name.
Advisor recruiting climbed to its strongest pace in nearly two years, while CEO Richard Steinmeier said the firm has "cleared the decks" for bigger institutional deals.
The combinations involving Red Oak and AdvisorRankings illustrate how AI is reshaping both wealth firm operations and wealthtech platforms' business models.
New 5-in-1 onboarding tool aims to cut subscription paperwork as advisor demand for private markets accelerates
Connecting unique offerings with a specific client niche is a sure path to advisor satisfaction and success – but it all has to start with an intentional strategy.
The deal marks the independent wealth management firm's first footprint in Alabama, expanding its national RIA acquisition strategy.
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
