Choreo taps Beemo AI agents to draft proposals, scale onboarding

RIA acquirer Choreo has partnered with AI services firm Beemo Automation to deploy AI agents that draft client proposals and help scale the client onboarding process. 

Both Beemo and Choreo are based in Chicago, though Choreo has more than 120 advisors across 21 states and over 40 office locations. Choreo serves more than 7,000 clients with approximately $28.6 billion in assets to rank as the largest firm to partner with Beemo, a startup bootstrapped by founder and CEO Ben Olsen without any outside funding so far. 

Choreo’s advisors can access Beemo’s AI agents inside Microsoft Teams. Olsen said that Beemo developed a “direct integration to Schwab that Choreo will own,” to have the custodian’s data fed into the AI agents. 

“We kind of think of ourselves as the AI team, the engineering team that most RIAs will never hire in-house,” said Olsen. “I see our job as being an extension of the team that comes in, makes their tech stack work better for them and builds that kind of intelligent layer on top of what they already have.” 

Schwab is the main custodian for Choreo, which is majority-owned by private equity firm Parthenon Capital. Choreo’s advisors can also prompt chat conversations with Beemo’s agents to surface company information from internal Microsoft SharePoint documents. 

“We see tremendous opportunity to use AI to create capacity, improve consistency and make knowledge more accessible across the organization, while preserving the judgment and personal relationships that remain at the heart of great client service,” Jason Van de Loo, CEO of Choreo, said in a statement on working with Beemo. 

Choreo has been active in providing wealth management services to employees at pre-IPO firms, including SpaceX, while also targeting workers from OpenAI and Anthropic.  

Beemo’s Choreo deal follows Schwab’s recent Anthropic announcement to deploy Claude for Financial Advisors to RIAs that custody with Schwab. Choreo is one of about 50 RIAs to partner with Beemo, which has 10 full-time employees.  

Beemo charges a monthly retainer that starts at $5,000 to build AI agents, with Olsen saying some firms pay up to $50,000 per month depending on the size of their AI deployment. Once AI agents are built, Beemo offers a lower retainer cost that covers maintenance and upgrades for RIAs. 

Olsen founded Beemo Automation in 2024 after he began his career in entry-level roles at Merrill Lynch and The Mather Group, an RIA based in Chicago. He worked as a client services associate at Mather, a role he now sees as being mostly automated by the AI that Beemo builds for RIAs.  

“I was doing all this grunt work. I was the guy who an advisor would have an intro call with, and then he would hand me his notes,” said Olsen. “My job was to manually plug data into software to manually fill out account opening PDFs. I did all this work manually myself, it was not very fun.” 

His early-career experiences led him to pivot into technology, going back to school to study data science and obtain a master's degree from the University of Michigan. Olsen sees AI's labor impact on RIAs as one that lets entry-level staff skip the copy-and-paste data work and move faster towards junior advisor roles. 

“Nobody gets a degree in finance and decides they want to be a financial advisor because they want to get an entry-level job at an RIA and copy and paste data between systems. That is historically the entry point," said Olsen. “We worked with a firm who had a client services person, and we automated like 80% of her job. She started studying for the CFP and started working towards becoming a junior advisor.”