CHICAGO – Jan. 2, 2023 – Choreo, LLC (“Choreo” or “the firm”) today announced it has completed a previously announced agreement to acquire Cherry Bekaert Wealth Management LLC (CBWM), an entity affiliated with Cherry Bekaert Advisory LLC.
The acquisition brings Choreo’s assets under management to approximately $12.8 billion and expands the firm’s footprint in the Southeast. CBWM has approximately $1 billion in assets under management and advisement.
“The completion of this agreement is a significant win for Choreo, our advisors and all the clients they serve around the country,” said Larry Miles, CEO of Choreo. “Our partnership with the team at Cherry Bekaert gets us closer to our ultimate goal of redefining the wealth advisory industry by focusing on complex tax, wealth, financial and estate planning.”
As part of the deal, Choreo and Cherry Bekaert Advisory LLC have formed a strategic partnership wherein the firms will combine resources and team to take advantage of other acquisition opportunities that spur further growth for their respective businesses.
“This is a great day not only for Cherry Bekaert Wealth Management but for our clients, whose loyalty, trust and faith in our ability to serve their needs motivates the team to go the extra mile on their behalf each day,” said Brooks Nelson, interim CEO of CBWM.
Michelle Thompson, CEO of Cherry Bekaert Advisory LLC, added, “With our teams working in concert with one another, there are very few limitations to what we can accomplish in the year ahead. I look forward to what is in store for 2023 and beyond.”
The finalization of this agreement with Cherry Bekaert comes as Choreo has made a number of deals to acquire other wealth management firms in 2022, including GreerWalker Wealth LLC and Enso Wealth Management.
About Choreo, LLC
Choreo is an independent firm focused on redefining the RIA’s place in the wealth advisory industry. Passionate about improving the well-being of clients, their families and their communities, Choreo operates out of 28 locations across the country. Choreo’s experienced advisors define, design and build solutions for their 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, Choreo serves over 3,600 families with approximately $11.8 billion of assets under management or advisement (as of April 2022). For more information, visit choreoadvisors.com.
Choreo, LLC is a limited liability company that provides investment advisory services, financial planning, and other wealth management services to individuals and businesses. Choreo, LLC is an SEC-registered investment adviser. Registration as an investment adviser does not imply any skillset of the wealth manager and/or its advisors.
About Cherry Bekaert
Cherry Bekaert, ranked among the largest assurance, tax and advisory firms in the U.S., serves clients across industries in all 50 U.S. states and internationally. “Cherry Bekaert” is the brand name under which Cherry Bekaert LLP and Cherry Bekaert Advisory LLC, independently owned entities, provide professional services in an alternative practice structure in accordance with applicable professional standards. Cherry Bekaert LLP is a licensed CPA firm that provides attest services, and Cherry Bekaert Advisory LLC and its subsidiary entities provide business advisory and non-attest services spanning the areas of transaction advisory, risk and accounting advisory, digital solutions, cybersecurity, strategic financing services and tax. For more than 75 years, global corporations, private businesses and the public sector have relied on Cherry Bekaert to guide them forward. We exercise a deliberate curiosity to know our clients’ industries and work collaboratively to create shared success. Cherry Bekaert LLP and Cherry Bekaert Advisory LLC are members of Allinial Global, an accountancy and business advisory global association. For more information, visit cbh.com.
About Cherry Bekaert Wealth Management
Cherry Bekaert Wealth Management, LLC is registered as an Investment Advisor Firm and wholly owned by the accounting firm Cherry Bekaert LLP. As of April 30, 2022, the Firm served high net worth individuals and retirement plans with approximately $1 billion under management or advisement. CBWM offers to its clients (individuals, high net-worth individuals, pension and profit-sharing plans, charitable organizations, etc.) portfolio management services, financial planning services, investment advisory oversight services, 1031 Like-Kind Exchange advisory services, and retirement plan services. For more information, visit cbhwealth.com.