02/22/2022
CHICAGO – Choreo, LLC (“Choreo”), the business formerly known as RSM US Wealth Management LLC, finalized the closing of its previously announced transaction whereby Parthenon Capital (“Parthenon”), a leading middle market private equity firm, together with Choreo management and advisors, have purchased the company from RSM US LLP (“RSM”), the nation’s leading provider of audit, tax and consulting services focused on the middle market. The name Choreo reflects the company’s ongoing mission to choreograph the financial wellbeing of its clients and their families. Terms of the transaction were not disclosed.
As previously announced, Larry Miles, a 20-year wealth management veteran, will become Chief Executive Officer of Choreo. Dave Scudder, the predecessor company’s national leader, will transition to Choreo as Executive Vice President, Strategic Partnerships.
“Choreo’s heritage is synonymous with a strong client service orientation and a culture that we are eager to honor and build upon,” said Miles. “We are looking forward to investing in the team, technology, recruiting, marketing, and strategic partnerships in ways that create new opportunities for our teammates and unlock added value for our clients. We will also seek to expand into new markets organically and through acquisitions.”
The companies are dedicated to ensuring a smooth transition for employees and clients. Clients will continue working with the wealth management team they know and trust and will receive the same investment advisory, financial planning, and other wealth management services. Furthermore, Choreo’s clients can continue to separately receive services from RSM.
Parthenon is a leading growth-oriented private equity firm with a long track record of building franchise companies in the wealth management sector.
For more information, contact Larry Miles at [email protected].
About Choreo
Choreo is passionate about improving the wellbeing of our clients, their families, and everyone in our communities. Operating out of 28 locations across the country, we seamlessly choregraph our clients’ financial and related needs so they can focus on what matters most to them. Originally launched over 20 years ago as a subsidiary of one of the largest CPA and professional services firms in the country, today we are an independent firm serving over 3,600 families with approximately $12 billion of assets under management or advisement (as of February 2022). For more information, please visit www.choreoadvisors.com