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.
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Employee accounts, crypto trials and job cuts frame a pivotal year for the Swiss lender.
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
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
