Parthenon Capital, a Chicago-based private equity firm, has entered into an agreement with RSM US, a diversified tax and consulting firm, to acquire Minneapolis-based RSM US Wealth Management, the firm’s registered investment adviser.
The advisory firm, which manages $7.46 billion, will be renamed Choreo, Parthenon said in a release.
The target date for the completion of the acquisition is Feb.18. Terms of the transaction were not disclosed.
Larry Miles, who served for a year as president and CEO of Freestone Capital Management and was formerly a principal of AdvicePeriod, will become Choreo’s CEO.
Quarterly analysis of retirement accounts highlights positive behavior.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
